The University of Texas at Austin   School of Law

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Fall 2011 - Federal Income Tax

Peroni, Robert J

Credit Hours: 4  Course ID: 454J  Unique # 29105

Meeting Day(s)TimeLocation
MTW9:13 - 10:20 amTNH 3.142
Exam Type  Date Time      Name Range Regular Room Extegrity Room
Final Thursday, December 8 1:30 pm - A-Z
Registration Information
This course is restricted to upper division students only.

Federal Income Tax (FIT) presents an overview of the federal income tax, mostly as it applies to individuals.  The aim of the course is to present the fundamental principles and policies underlying the federal income tax and to convey the style and flavor of tax law analysis.  As a survey course, FIT will touch on all major issues, such as what is gross income, what expenditures are deductible, what is the appropriate taxable unit, what is the function of "basis," and what is the appropriate timing of income and deductions.  Specific topics that will be covered in reasonable depth include:  employee fringe benefits, business deductions, the exclusions for gifts, bequests, and recoveries for personal injuries, income attribution, the taxation of the family (including divorce taxation), the tax treatment of loans, capital expenditures, methods of capital recovery, capital gains and losses, and tax-free exchanges.  The grade for this course will be based entirely on a final, open book examination.

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