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Fall 2013 - Federal Income Taxation

Peroni, Robert J

Course ID: 454J  Unique # 29130  Credit Hours: 4
Meeting DaysTimesLocation
   Monday 9:10 am - 10:17 am TNH 2.139
   Tuesday 9:10 am - 10:17 am TNH 2.139
   Wednesday 9:10 am - 10:17 am TNH 2.139
Exam Type   Date   Time      Name Range   Room  
  Final Monday, December 16    8:30 am          A-M
Registration Information
This course is restricted to upper division students only.

Federal Income Taxation (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 thinking.  As a survey, FIT will touch on all the 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:  the definition of gross income, including the specific inclusion and specific exclusion provisions, business and investment expense 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, tax-free exchanges, and various tax policy issues (including horizontal and vertical equity, economic efficiency, optimal tax theory, the tax expenditure concept, and a comparison of an income tax base with a cash flow consumption tax base).  The grade for this course will be based entirely on a final, open book examination.  Four units.

Federal Income Tax: Doctrine, Structure, and Policy - Dodge, Fleming & Peroni
  LexisNexis, edition: 4th
Federal Income TaxCode and RegulationsSelected Sections - Martin B. Dickinson ed.
  CCH, edition: 2013-2014
Federal Income Taxation - Chirelstein & Zelenak
  Foundation Press, edition: 2012
Concise Hornbook: Principles of Federal Income Taxation - Posin & Tobin
  West Group, edition: 7th ed, 2005