Course Schedule
Classes Found
Course Information
- Course ID:
- 383R
Registration Information
- Upperclass-only elective
- Will use floating mean GPA if applicable
Federal Criminal Law
- MON, WED 2:15 – 3:30 pm TNH 3.127
Course Information
- Course ID:
- 383R
Registration Information
- 1L and upperclass elective
- Will use floating mean GPA if applicable
Description
This is a one-semester three-unit course about substantive federal criminal law. This course will detail the prosecution and defense of criminal offenses in federal court, focusing on the more frequently employed and complex areas, and on current hot topics. Class time will be devoted to mail, wire, bank, and health care fraud, public corruption, money laundering, administration of justice offenses, the Controlled Substances Act, immigration offenses, and terrorism and weapons offenses. Students will be alerted to the manner in which federal sanctions can be employed against lawyers, banks, and corporations, and the bases of federal criminal jurisdiction. If time permits, we will review the federal plea bargaining and sentencing systems. Your grade will be based primarily upon a floating open-book essay exam, and in small part upon class participation. If we have no more than 14 students, the grade in this class will not be on a curve, and you will be required to complete at least one in-class group project. Second-year students interested in the United States Attorney’s Office or Federal Public Defender's Service internships for their third year should consider taking this class first. This class does not significantly overlap with my Advanced Federal Criminal Prosecution & Defense seminar, Judge Pitman's Fed. Crim. Law seminar, or Mr. DeGuerin's Adv. Fed. Defense seminar.
Federal Criminal Law
- MON, WED 1:15 – 2:30 pm TNH 2.123
Course Information
- Course ID:
- 383R
Registration Information
- 1L and upperclass elective
- Will use floating mean GPA if applicable
Description
Same as LAW 323F, Federal Criminal Law.
This is a one-semester three-unit course about substantive federal criminal law. This course will detail the prosecution and defense of criminal trials in federal court, focusing on the more frequently employed and complex areas, and on current hot topics. Class time will be devoted to mail, wire, and health care fraud, public corruption, money laundering, administration of justice offenses, the Controlled Substances Act, immigration offenses, and terrorism and weapons offenses. In addition, students will be alerted to the manner in which federal sanctions can be employed against lawyers, banks, and corporations. If time permits, we will review defenses and the plea bargaining and sentencing systems. Your grade will be based primarily upon a floating open-book essay exam, and in part upon class participation. If we have no more than 20 students, the grade in this class will not be on a curve, and you will be asked to complete one or two in-class oral projects. Second-year students interested in the United States Attorney’s Office or Federal Public Defender's Office internships for their third year should consider taking this class first. This class does not significantly overlap with the Advanced Federal Criminal Prosecution & Defense seminar, and students are welcome to take both.
Federal Criminal Law
- TUE, THU 5:45 – 7:06 pm ONLINE
Course Information
- Course ID:
- 323F
Registration Information
- 1L and upperclass elective
- Will use floating mean GPA if applicable
Description
This class will be taught by Prof. Susan Klein and Prof. Aleza Remis. This class will be taught remotely, except perhaps for the first class so we can all meet. We will thereafter meet remotely every Tues. and Thurs. from 5:45 to 7:06 p.m.
This is a one-semester three-unit course about substantive federal criminal law. This course will detail the prosecution and defense of criminal trials in federal court, focusing on the more frequently employed and complex areas, and on current hot topics. Class time will be devoted to mail, wire, and health care fraud, public corruption, money laundering, administration of justice offenses, the Controlled Substances Act, immigration offenses, and terrorism and weapons offenses. In addition, students will be alerted to the manner in which federal sanctions can be employed against lawyers, banks, and corporations. If time permits, we will review defenses and the plea bargaining and sentencing systems. Your grade will be based primarily upon a floating open-book essay exam, and in part upon class participation. If we have no more than 20 students, the grade in this class will not be on a curve, and you will be asked to complete one or two in-class oral projects. Second-year students interested in the United States Attorney’s Office or Federal Public Defender's Office internships for their third year should consider taking this class first. This class does not significantly overlap with the Advanced Federal Criminal Prosecution & Defense seminar, and students are welcome to take both.
Federal Criminal Law
- MON, WED, THU 1:15 – 2:05 pm TNH 2.123
Course Information
- Course ID:
- 323F
Registration Information
- 1L and upperclass elective
Description
This is a one-semester three-unit course about substantive federal criminal law. This course will detail the prosecution and defense of criminal trials in federal court, focusing on the more frequently employed and complex areas, and on current hot topics. Class time will be devoted to mail and wire fraud, public corruption, money laundering, administration of justice offenses, the controlled substances act, and terrorism and weapons offenses. In addition, students will be alerted to the manner in which federal sanctions can be employed against lawyers, banks, and corporations. If time permits, we will review defenses and the plea bargaining system. Your grade will be based primarily upon a floating open-book essay exam, and in part upon a series of in-class oral projects. Second-year students interested in the United States Attorney’s Office internship for their third year should consider taking this class first. This class does not significantly overlap the Advanced Federal Criminal Prosecution seminar, and students are welcome to take both.
Federal Estate and Gift Taxation/Estate Planning
- TUE, THU 1:05 – 1:55 pm JON 6.257
Course Information
- Course ID:
- 296W
Registration Information
- Upperclass-only elective
- Will use floating mean GPA if applicable
Description
This course examines the federal wealth transfer tax system, including the estate and gift taxes; in particular, their application to a wide variety of gratuitous transfers, both lifetime and testamentary. In the case of the gift tax, it considers the concept of a "transfer of property by gift," complete and incomplete transfers, the annual exclusion, and gift-splitting. In the case of the estate tax, it considers the concept of "gross estate," including interests still owned at death, property transferred during life subject to retained interests or powers or in contemplation of death, property subject to powers of appointment, jointly owned property, life insurance, and annuities and employee death benefits. As to both the gift tax and the estate tax, it focuses heavily on the marital and charitable deductions, the unified credit, and problems of valuation. Throughout, it relates the material under consideration to basic, and sometimes not-so-basic, estate planning, including the creation of trusts, both revocable and irrevocable. Prerequisite/Co-requisite: Wills & Estates. FIT is NOT a prerequisite. Related Course Areas Property, Tax
Federal Estate and Gift Taxation/Estate Planning
- TUE, WED 1:15 – 2:05 pm JON 6.207
Course Information
- Course ID:
- 296W
Registration Information
- Upperclass-only elective
- Will use floating mean GPA if applicable
Description
This course examines the federal wealth transfer tax system, including the estate, gift, and generation-skipping taxes; in particular, their application to a wide variety of gratuitous transfers, both lifetime and testamentary. In the case of the gift tax, it considers the concept of a "transfer of property by gift," complete and incomplete transfers, the annual exclusion, and gift-splitting. In the case of the estate tax, it considers the concept of "gross estate," including interests still owned at death, property transferred during life subject to retained interests or powers or in contemplation of death, property subject to powers of appointment, jointly owned property, life insurance, and annuities and employee death benefits. As to both the gift tax and the estate tax, it focuses heavily on the marital and charitable deductions, the unified credit, and problems of valuation. It also considers the generation-skipping tax, but in much less detail. Throughout, it relates the material under consideration to basic, and sometimes not-so-basic, estate planning, including the creation of trusts, both revocable and irrevocable. Prerequisite/Co-requisite: Wills & Estates. FIT is NOT a prerequisite. Related Course Areas Property, Tax
Federal Income Tax of Trusts/Estates
- TUE, WED 1:05 – 1:55 pm JON 6.257
Course Information
- Course ID:
- 292U
Registration Information
- Upperclass-only elective
- Will use floating mean GPA if applicable
- Prerequisite: Federal Income Taxation (93Q)
Description
This two-hour course examines Federal income taxation of estates, trusts, grantors, and beneficiaries, as prescribed by Subchapter J of the Internal Revenue Code. In particular, this course focuses on how the income taxation of estates and trusts differs from that of individuals. Central topics include distributable net income (DNI), the distribution deduction, the grantor trust rules, and income in respect of a decedent (IRD). This is an advanced course that assumes familiarity with basic principles of Federal income taxation and the law of wills and estates.
Prerequisite: LAW 293Q, 393Q, 493Q, 593Q or 254J, 354J, 454J, 554J. Federal Income Taxation.
Federal Income Tax of Trusts/Estates
- MON, TUE 2:15 – 3:05 pm JON 6.207
Course Information
- Course ID:
- 292U
Registration Information
- Upperclass-only elective
- Will use floating mean GPA if applicable
- Prerequisite: Federal Income Taxation (93Q)
Description
Same as LAW 254U, Federal Income Tax of Trusts/Estates.
This two-hour course examines Federal income taxation of estates, trusts, grantors, and beneficiaries, as prescribed by Subchapter J of the Internal Revenue Code. In particular, this course focuses on how the income taxation of estates and trusts differs from that of individuals. Central topics include distributable net income (DNI), the distribution deduction, the grantor trust rules, and income in respect of a decedent (IRD). This is an advanced course that assumes familiarity with basic principles of Federal income taxation and the law of wills and estates.
Prerequisite: LAW 293Q, 393Q, 493Q, 593Q or 254J, 354J, 454J, 554J. Federal Income Taxation.
Federal Income Tax of Trusts/Estates
- TUE, WED 7:45 – 8:39 am ONLINE
Course Information
- Course ID:
- 254U
Registration Information
- Upperclass-only elective
- Will use floating mean GPA if applicable
Description
This course will be taught entirely online via Zoom.
This two-hour course examines Federal income taxation of estates, trusts, grantors, and beneficiaries, as prescribed by Subchapter J of the Internal Revenue Code. In particular, this course focuses on how the income taxation of estates and trusts differs from that of individuals. Central topics include distributable net income (DNI), the distribution deduction, the grantor trust rules, and income in respect of a decedent (IRD). This is an advanced course that assumes familiarity with basic principles of Federal income taxation and the law of wills and estates.
Prerequisite: LAW 254J, 354J, 454J, 554J. Federal Income Taxation.
Federal Income Tax of Trusts/Estates
- TUE, WED 1:15 – 2:05 pm JON 5.206/207
Course Information
- Course ID:
- 254U
Registration Information
- Upperclass-only elective
Description
This two-hour course examines Federal income taxation of estates, trusts, grantors, and beneficiaries, as prescribed by Subchapter J of the Internal Revenue Code. In particular, this course focuses on how the income taxation of estates and trusts differs from that of individuals. Central topics include distributable net income (DNI), the distribution deduction, the grantor trust rules, and income in respect of a decedent (IRD). This is an advanced course that assumes familiarity with basic principles of Federal income taxation and the law of wills and estates. Therefore, each student who enrolls must already have taken or be taking both FIT and Wills and Estates. Prerequisites/co-requisites: FIT and Wills and Estates.
Federal Income Tax – Transactional
- MON, TUE 2:15 – 3:30 pm TNH 2.124
Course Information
- Course ID:
- 354J
Registration Information
- Upperclass-only elective
- Reverse-priority registration
Description
This version of Federal Income Tax (FIT) is intended for those going into transactional law and who intend to take Corporate Tax in the future. This course presents the fundamental principles underlying the federal income tax and surveys many of the basic issues, but with an emphasis on transactions. In contrast to other FIT courses, we will spend more time on debt, depreciation, income-shifting, interest, installment sales, and financial instruments. This course also considers economic and policy issues of taxation.
Course Information
- Course ID:
- 493Q
Registration Information
- Upperclass-only elective
- Reverse-priority registration
- Will use floating mean GPA if applicable
Federal Income Taxation
- TUE, WED, THU 9:05 – 10:12 am TNH 2.124
Course Information
- Course ID:
- 493Q
Registration Information
- Upperclass-only elective
- Reverse-priority registration
- Will use floating mean GPA if applicable
Description
This is a four-credit course. There are no prerequisites. No prior background in accounting, economics, math, or finance is needed or expected.
Federal Income Tax (FIT) is an overview of the federal income tax, mostly as it applies to individuals. It covers the fundamental principles of the federal income tax. It will address all the major issues, such as what gross income is, which expenditures are deductible, the appropriate taxable unit, the function of "basis," and the timing of income and deductions. Specific topics will include: employee fringe benefits, business deductions (e.g., travel), hobby losses, personal deductions (e.g., medical expenses and charitable contributions), the exclusions for gifts, bequests, and life insurance proceeds, taxation of the family, the tax treatment of loans, capital expenditures, methods of capital recovery (e.g., installment sales and depreciation), capital gains and losses, tax-free exchanges and rollovers, and tax accounting (e.g., the cash and accrual methods).
The instructor will emphasize use of both the Internal Revenue Code and the Treasury Regulations.
Federal Income Taxation
- TUE, WED 2:30 – 3:45 pm TNH 2.124
Course Information
- Course ID:
- 393Q
Registration Information
- Upperclass-only elective
- Reverse-priority registration
- Will use floating mean GPA if applicable
Description
Federal Income Tax covers basic principles of the federal income tax, including but not limited to the basic structure of the federal individual income tax. The primary objectives of the course are to familiarize you with those substantive principles; to introduce you to the format and content of the Internal Revenue Code, as well as related Treasury regulations, IRS guidance documents, and case law concerning basic federal income tax matters; and to give you experience working with a complicated statutory and regulatory scheme to resolve legal questions.
Textbooks:
J. Martin Burke & Michael K. Friel, Taxation of Individual Income (13th ed. 2023, Carolina Academic Press), ISBN: 978-1-530-2507-6
Optional Statutory Supplement: Daniel J. Lathrope, Selected Federal Taxation Statutes and Regulations (2024 ed., West Academic Publishing), ISBN: 979-8-88786-000-8
Federal Income Taxation
- MON, TUE, WED 9:05 – 10:12 am TNH 2.124
Course Information
- Course ID:
- 493Q
Registration Information
- Upperclass-only elective
- Reverse-priority registration
- Will use floating mean GPA if applicable
Description
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.
Required Textbooks:
(1) Joseph M. Dodge, J. Clifton Fleming, Jr., Francine J. Lipman & Robert J. Peroni, Federal Income Tax: Doctrine, Structure, and Policy (Carolina Academic Press 5th ed. 2019)—ISBN 978-1-5310-1311-0
(2) Federal Income Tax—Code & Regulations—Selected Sections, Robert J. Peroni, Coordinating Editor (Wolters Kluwer/CCH 2023-2024 ed.)
Recommended Textbooks (Optional):
(1) Marvin A. Chirelstein & Lawrence Zelenak, Federal Income Taxation (West Academic/Foundation Press) (Concepts and Insights Series)
(2) Donald B. Tobin & Samuel A. Donaldson, Principles of Federal Income Taxation (West Academic) (Concise Hornbook Series)
Federal Income Taxation
- MON, TUE, WED 9:10 – 10:17 am TNH 3.124
Course Information
- Course ID:
- 493Q
Registration Information
- Upperclass-only elective
- Reverse-priority registration
- Will use floating mean GPA if applicable
Description
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.
Required Textbooks:
(1) Joseph M. Dodge, J. Clifton Fleming, Jr., Francine J. Lipman & Robert J. Peroni, Federal Income Tax: Doctrine, Structure, and Policy (Carolina Academic Press 5th ed. 2019)—ISBN 978-1-5310-1311-0
(2) Federal Income Tax—Code & Regulations—Selected Sections, Robert J. Peroni, Coordinating Editor (Wolters Kluwer/CCH 2022-2023 ed.)
Recommended Textbooks (Optional):
(1) Marvin A. Chirelstein & Lawrence Zelenak, Federal Income Taxation (West Academic/Foundation Press) (Concepts and Insights Series)
(2) Donald B. Tobin & Samuel A. Donaldson, Principles of Federal Income Taxation (West Academic) (Concise Hornbook Series)
Federal Income Taxation
- MON, TUE, WED 9:10 – 10:17 am JON 6.206
Course Information
- Course ID:
- 493Q
Registration Information
- Upperclass-only elective
- Reverse-priority registration
- Will use floating mean GPA if applicable
Description
This is a four-credit course. There are no prerequisites. No prior background in accounting, economics, math, or finance is needed or expected.
Federal Income Tax (FIT) is an overview of the federal income tax, mostly as it applies to individuals. It covers the fundamental principles of the federal income tax. It will address all the major issues, such as what gross income is, which expenditures are deductible, the appropriate taxable unit, the function of "basis," and the timing of income and deductions. Specific topics will include: employee fringe benefits, business deductions (e.g., travel), hobby losses, personal deductions (e.g., medical expenses and charitable contributions), the exclusions for gifts, bequests, and life insurance proceeds, taxation of the family, the tax treatment of loans, capital expenditures, methods of capital recovery (e.g., installment sales and depreciation), capital gains and losses, tax-free exchanges and rollovers, and tax accounting (e.g., the cash and accrual methods).
The instructor will emphasize use of both the Internal Revenue Code and the Treasury Regulations.
Federal Income Taxation
- MON, TUE, WED, THU 9:10 – 10:17 am TNH 2.114
Course Information
- Course ID:
- 493Q
Registration Information
- Upperclass-only elective
- Reverse-priority registration
- Will use floating mean GPA if applicable
Description
Same as LAW 454J, Federal Income Taxation.
This Federal Income Tax course uses a problem-based method to study core federal income tax doctrine, including the concepts of taxable income, adjustments to income, and when and to whom income is taxed. In addition, the course explores the policy choices presented by an income tax system, including equity, efficiency, administrability and political considerations. Federal Income Tax develops the universal lawyering skill of working with a statute-based body of law, in conjunction with administrative guidance and cases. It asks how the income tax affects decisionmaking and interacts with the project of giving advice as a lawyer. The course is a gateway to more advanced tax offerings.
Federal Income Taxation
- MON, TUE, WED 10:30 – 11:37 am TNH 2.124
Course Information
- Course ID:
- 493Q
Registration Information
- Upperclass-only elective
- Reverse-priority registration
- Will use floating mean GPA if applicable
Description
Same as LAW 454J, Federal Income Taxation.
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.
Required Textbooks:
(1) Joseph M. Dodge, J. Clifton Fleming, Jr., Francine J. Lipman & Robert J. Peroni, Federal Income Tax: Doctrine, Structure, and Policy (Carolina Academic Press 5th ed. 2019)—ISBN 978-1-5310-1311-0
(2) Federal Income Tax—Code & Regulations—Selected Sections, Robert J. Peroni, Coordinating Editor (Wolters Kluwer/CCH 2021-2022 ed.)—will be published in early to mid July 2021—new edition must be ordered
Recommended Textbooks (Optional):
(1) Marvin A. Chirelstein & Lawrence Zelenak, Federal Income Taxation (West Academic/Foundation Press 14th ed. 2018) (Concepts and Insights Series)—ISBN 9781640208247
(2) Donald B. Tobin & Samuel A. Donaldson, Principles of Federal Income Taxation (West Academic 8th ed. 2017) (Concise Hornbook Series)—ISBN 9780314287861
Federal Income Taxation
- MON, TUE, WED 2:15 – 3:22 pm TNH 3.124
Course Information
- Course ID:
- 493Q
Registration Information
- Upperclass-only elective
- Reverse-priority registration
- Will use floating mean GPA if applicable
Description
Same as LAW 454J, Federal Income Taxation.
This is a four-credit course. There are no prerequisites. A prior background in accounting, economics, math, or finance is neither needed nor expected.
Federal Income Tax (FIT) is an overview of the federal income tax, mostly as it applies to individuals. The aim of the course is to present the fundamental principles underlying the federal income tax. 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 will include: employee fringe benefits, business deductions (e.g., travel, entertainment, and education), hobby losses, personal deductions (e.g., medical expenses and charitable contributions), the exclusions for gifts, bequests, and life insurance proceeds, taxation of the family (including divorce), the tax treatment of loans, capital expenditures, methods of capital recovery (e.g., installment sales and depreciation methods), capital gains and losses, tax-free exchanges and rollovers, tax accounting (e.g., the cash and accrual methods), and the "tax benefit" rule.
The instructor will put great emphasis on using both the Internal Revenue Code and the Treasury Regulations.
- MON, TUE, WED, THU 10:35 – 11:29 am TNH 3.142
Course Information
- Course ID:
- 454J
Registration Information
- Upperclass-only elective
- Reverse-priority registration
- Will use floating mean GPA if applicable
Description
This course will be taught in person but with the option of remote participation via Zoom. Please note that this course might become online-only in the event that actual in-person attendance during the semester consistently falls below a threshold to be determined in the exercise of reasonable discretion by the instructor and the Student Affairs Office.
This Federal Income Tax course uses a problem-based method to study core federal income tax doctrine, including the concepts of taxable income, adjustments to income, and when and to whom income is taxed. In addition, the course explores the policy choices presented by an income tax system, including equity, efficiency, administrability and political considerations. Federal Income Tax develops the universal lawyering skill of working with a statute-based body of law, in conjunction with administrative guidance and cases. It asks how the income tax affects decisionmaking and interacts with the project of giving advice as a lawyer. The course is a gateway to more advanced tax offerings.
Federal Income Taxation
- MON, WED, THU 9:00 – 10:07 am ONLINE
Course Information
- Course ID:
- 454J
Registration Information
- Upperclass-only elective
- Reverse-priority registration
- Will use floating mean GPA if applicable
Description
This course will be taught entirely online via Zoom.
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.
Federal Income Taxation
- MON, TUE, WED 10:30 – 11:37 am TNH 2.139
Course Information
- Course ID:
- 454J
Registration Information
- Upperclass-only elective
- Reverse-priority registration
- Will use floating mean GPA if applicable
Description
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.
Federal Income Taxation
- MON, TUE, WED 9:10 – 10:17 am JON 5.206/7
Course Information
- Course ID:
- 454J
Registration Information
- Upperclass-only elective
- Reverse-priority registration
- Will use floating mean GPA if applicable
Description
This is a four-credit course. No prerequisites. Federal Income Tax (FIT) is an overview of the federal income tax, mostly as it applies to individuals. The aim of the course is to present the fundamental principles underlying the federal income tax. 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 will include: employee fringe benefits, business deductions (e.g., travel, entertainment, and education), hobby losses, personal deductions (e.g., medical expenses and charitable contributions), the exclusions for gifts, bequests, and life insurance proceeds, taxation of the family (including divorce), the tax treatment of loans, capital expenditures, methods of capital recovery (e.g., installment sales and depreciation methods), capital gains and losses, tax-free exchanges and rollovers, tax accounting (e.g., the cash and accrual methods), and the "tax benefit" rule. There will be great emphasis on using both the Internal Revenue Code and the Treasury Regulations. Prior background in accounting, economics, math, or finance is neither needed nor expected.