South-Western Federal Taxation 2021

Dr. William H. Hoffman, Jr., earned his B.A. and J.D. degrees from the University of Michigan before serving in the Korean War as an of?cer in the U.S. Army’s Judge Advocate General Corps. Following his return from military service, he completed his M.B.A. and Ph.D. degrees from The University of Texas at Austin. Dr. Hoffman was a licensed C.P.A. and attorney in Texas. Recognized for his teaching excellence, Dr. Hoffman's academic experience included working with The University of Texas, Louisiana State University and the University of Houston. During his time in Houston, Dr. Hoffman served as a professor, mentor and doctoral adviser to countless students and colleagues. Between 1977 and 1980, he established what is now the SOUTH-WESTERN FEDERAL TAXATION SERIES. A frequently requested professional speaker, Dr. Hoffman addressed many tax institutes and conferences and published extensively in academic and professional journals. His articles have appeared in The Journal of Taxation, The Tax Adviser, Taxes–The Tax Magazine, The Journal of Accountancy, The Accounting Review and Taxation for Accountants. David M. Maloney, Ph.D., C.P.A., is the Carman G. Blough Professor of Accounting Emeritus at the University of Virginia’s McIntire School of Commerce. He completed his undergraduate work at the University of Richmond and his graduate work at the University of Illinois at Urbana-Champaign. Upon joining the University of Virginia faculty, Dr. Maloney taught federal taxation in the graduate and undergraduate programs and was a recipient of major research grants from the Ernst & Young and KPMG Foundations. Dr. Maloney has published work in numerous professional journals, including Journal of Taxation, The Tax Adviser, Tax Notes, Corporate Taxation, Accounting Horizons, Journal of Taxation of Investments and Journal of Accountancy. Annette Nellen, C.P.A., C.G.M.A., Esq., directs San José State University’s graduate tax program (M.S.T.) and teaches courses in tax research, tax fundamentals, accounting methods, property transactions, employment tax, ethics, and tax policy. Professor Nellen is a graduate of CSU Northridge, Pepperdine (MBA) and Loyola Law School. Prior to joining San José State University (SJSU) in 1990, she worked with a Big Four firm and the IRS. At SJSU, Professor Nellen was recognized with the Outstanding Professor and Distinguished Service awards. She is an active member of the tax sections of the AICPA, American Bar Association and California Lawyers Association. She chaired the AICPA Tax Executive Committee from October 2016 to May 2019. In 2013, she received the AICPA Arthur J. Dixon Memorial Award -- the highest award given by the accounting profession in the area of taxation. Professor Nellen is the author of Bloomberg Tax Portfolio, Amortization of Intangibles. She has published numerous articles in the AICPA Tax Insider, The Tax Adviser, State Tax Notes and The Journal of Accountancy. She has testified before the House Ways and Means and Senate Finance Committees and other committees on federal and state tax reform. Professor Nellen maintains the 21st Century Taxation website and blog (www.21stcenturytaxation.com) as well as websites on tax reform and state tax issues (www.sjsu.edu/people/annette.nellen/). William A. Raabe, Ph.D., C.P.A., was the University of Wisconsin Distinguished Professor of Taxation. He taught at Ohio State, Arizona State, the Capital University (Ohio) Law School and the Universities of Wisconsin (Milwaukee and Whitewater). A graduate of Carroll University (Wisconsin) and the University of Illinois, Dr. Raabe’s teaching and research interests have included international and multistate taxation, technology in tax education, personal financial planning and the economic impact of sports teams and fine arts groups. Dr. Raabe has also written the PricewaterhouseCoopers Tax Case Studies and has written extensively about book-tax differences in financial reporting. Dr. Raabe has served as a visiting tax faculty member for a number of public accounting firms, bar associations and C.P.A. societies. He has received numerous teaching awards, including the Accounting Educator of the Year award from the Wisconsin Institute of C.P.A.s. He has been the faculty adviser for student teams in the Deloitte Tax Case Competition (coaching national finalists at three different schools) as well as the PricewaterhouseCoopers Extreme Tax policy competition (coaching a national finalist). James C. Young, Ph.D., C.P.A., is the PricewaterhouseCoopers Professor of Accountancy at Northern Illinois University. He earned his bachelor of science from Ferris State University and his MBA and doctorate from Michigan State University. Dr. Young's research, using archival data, focuses on taxpayer responses to the income tax. His dissertation received the PricewaterhouseCoopers/American Taxation Association Dissertation Award and his subsequent research has received funding from a number of organizations, including the Ernst & Young Foundation Tax Research Grant Program. His work has been published in a variety of academic and professional journals, including the National Tax Journal, The Journal of the American Taxation Association and Tax Notes. Honored as a Northern Illinois University Distinguished Professor, Dr. Young received the Illinois C.P.A. Society Outstanding Accounting Educator Award in 2012. In addition, he has received numerous university teaching awards from Northern Illinois University, George Mason University and Michigan State University.

Part I: INTRODUCTION.
1. Understanding and Working with the Federal Tax Law.
Part II: CORPORATIONS.
2. The Deduction for Qualified Business Income for Noncorporate Taxpayers.
3. Corporations: Introduction and Operating Rules.
4. Corporations: Organization and Capital Structure.
5. Corporations: Earnings & Profits and Dividend Distributions.
6. Corporations: Redemptions and Liquidations.
7. Corporations: Reorganizations.
8. Consolidated Tax Returns.
9. Taxation of International Transactions.
Part III: FLOW-THROUGH ENTITIES.
10. Partnerships: Formation, Operations, and Basis.
11. Partnerships: Distributions, Transfer of Interests, and Terminations.
12. S Corporations.
13. Comparative Forms of Doing Business.
Part IV: ADVANCED TAX PRACTICE CONSIDERATIONS.
14. Taxes in the Financial Statements.
15. Exempt Entities.
16. Multistate Corporate Taxation.
17. Tax Practice and Ethics.
Part V: FAMILY TAX PLANNING.
18. The Federal Gift and Estate Taxes.
19. Family Tax Planning.
20. Income Taxation of Trusts and Estates.
Appendix A: Tax Rate Schedules and Tables.
Appendix B: Tax Forms.
Appendix C: Glossary.
Appendix D: Table of Code Sections Cited, Table of Regulations Cited,
Table of Revenue Procedures and Revenue Rulings Cited.
Appendix E: Table of Cases Cited.
Appendix F: Present and Future Value Tables.
Index.