Federal Income Tax

The Fourth Edition of Federal Income Tax: A Contemporary Approach continues its successful integration of several modern platforms to introduce students to the federal income taxation of individuals. It is a problem method casebook that teaches students how to read and apply statutes and regulations in real-world contexts. Many law students are becoming good readers of case law. Fewer are practicing the skills to become good readers of statutes and regulations. Yet statutes and regulations are the most important sources of primary authority for tax lawyers, ERISA lawyers, environmental lawyers, criminal lawyers, and others. This casebook aims to narrow the gap. As before, the book takes three passes through the system, each in increasing detail. The first pass, in two short chapters, introduces the basic structure of the federal income tax through the computation of taxable income. It lets students see the overall structure early in their study and gives context to new concepts as they are introduced. The second pass, consuming two larger chapters, walks through the concepts of gross income and deductions, respectively. The final pass, consuming seven chapters, then builds on the material from the first four chapters, considering exclusions, timing issues, characterization, property transactions, personal expenses, dual-use expenses, and tax shelters. The integration with electronic platforms allows for a quick transition from in-person to online instruction. The review questions at the end of every chapter allow students to independently check their understanding of the material. In addition to review questions, the text includes hundreds of self-assessment questions, and nearly 100 detailed problems for class discussion, all of which require students to apply Code and Regulation provisions to real-life fact patterns. The book also includes links to several instructional videos to reinforce student comprehension. Like other titles in the Interactive Casebook Series, the accompanying electronic version gives students immediate access to cited cases, statutes, and articles.