Federal Personal Income Tax
FEDERAL PERSONAL INCOME TAX
For our first class on Monday, August 26, 2013, please read pages 1-16 (but not the shaded material on p. 15) (stopping before “The Tax Expenditure Budget”), and 20 – 43 in the casebook, Bankman, Shaviro and Stark, Federal Income Taxation (16th ed. 2012) (ISBN#: 978-1-4548-0996-8). Please pay particularly close attention to pages 20-43. [The Code book for this class is: Martin B. Dickinson (Editor), Federal Income Tax Code and Regulations: Selected Sections (CCH Publisher, 2013-2014 Edition) (ISBN #: 978-0-8080-3465-0).] Both books must be brought to each class.
Additionally, please pick up from the plexiglass bins on the fifth floor a handout on which I have written at the top “Replaces Same Titled Section on p. 36 of Current Edition of Casebook”. When you get to p. 36, Chapter 1, Section H, 5, please read this handout instead of Chapter 1, Section H, 5, p. 36 in the casebook. For some reason this latest edition of the casebook fails to include the most important and meaningful paragraphs of this section that appeared in earlier editions of the casebook. I will be going over these paragraphs in class.
Pages 20-43 in the casebook (along with the above handout) introduce many of the concepts and issues with which we will be dealing throughout the course of the semester. I will discuss some of the items in these pages in our first several class sessions but, because of time constraints, will not be able to discuss all of them in detail now. We will, however, be covering many of these concepts in detail during the course of the semester, and these pages are therefore useful for giving you a framework that will be filled in later. You may also wish to refer back to these pages as the semester progresses.
Please Do Not read ahead at this time. For reasons which I shall explain during the first class we will not always be following the order of the casebook, and there will be an assignment distributed to begin at page 51. Anyway, reading ahead at this point may very well be counterproductive.
IN PURCHASING BOOKS FOR THIS CLASS, I STRONGLY URGE YOU TO BUY ONLY THE REQUIRED BOOKS (THE CASEBOOK AND CODE AND REGULATIONS BOOKS) PRIOR TO OUR FIRST CLASS. I WILL DISCUSS THE MERITS OF THE RECOMMENDED OR OPTIONAL BOOKS IN OUR FIRST CLASS AND IF YOU PURCHASE ANY OF THEM BEFORE I DISCUSS THEM, YOU DO SO AT YOUR OWN PERIL.