Fundamentals of Federal Income Taxation (University Casebook Series)
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Fundamentals of Federal Income Taxation (University Casebook Series)
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This casebook provides detailed information on federal income taxation, with specific assignments to the Internal Revenue Code, selected cases, and administrative rulings from the Internal Revenue Service. The revised and updated Sixteenth Edition retains the book's long standing format and much of its prior materials, but it is updated to reflect recent events including all legislative developments, especially the Health Care and Education Reconciliation Act of 2010 (Pub. L. No. 111-152) and the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (Pub. L. No. 111-312). The new edition contains coverage of changes in the cost recovery system (179 and 168 (k)), and the rules for taxing capital gains and losses. New cases and rulings include Mayo Foundation v. United States, the United States Supreme Court's decision on the standard for sustaining an IRS regulation, and Revenue Ruling 2010-25 on the deductibility of home equity indebtedness. The material on computation of tax liability has also been updated to reflect all of the recent legislative changes. Additionally, there is coverage of the tax proposals of the Simpson-Bowles deficit reduction commission, and revised coverage of capitalization issues, amortization of intangibles, and hobby losses.