Federal Personal Income Tax (FPIT) - Professor Edwards

Textbooks:

1. Bank and Stark, Selected Sections, Federal Income Tax Code and Regulations, Foundation Press, 2021-2022.  ISBN: 9781636598963. It is also permissible to use the 2022-2023 (though it may not be available at the beginning of the semester) or 2020-2021 editions.
2. Freeland, Lathrope, Lind, and Stephens, Fundamentals of Federal Income Taxation (19th edition).  ISBN 978-1-64020-852-0.  You should be able to find this book used.  I do not recommend using an older edition.  There is a 20th edition, but I am assigning the 19th edition because it will save you money and still get the job done.

The first assignment for 1/12/23 - Fundamental Timing Principles I (please prepare I and II below, but potentially will continue into week 2)

Fundamental Timing Principles I:                                                                                                                       

• Code: §§ 441(a)-(e), 442, 446, 451(a), 461(a), (f), (g), (h), 448(d)(5), 267(a)(2), (b), (c), (skim §§ 448, 455, 456)
• Regs: §§ 1.446-1(a)-(c)(1),
• Freeland:    587-617                                                                                                                                           
• TWEN: Robinson v. Comm’r, 44 T.C. 20 (1965); Revenue Ruling 76-135
• Problems:   pp. 617-618, # 1(a), (b), (c), (d), # 2(a)-(c); 602, # 1, # 2(c), (d), (e), (f), # 3;

Fundamental Timing Principles II:

• Code: §§448, 451(a)-(c); 455; 456; 458; 267
• Regs: 1.451-1(a), -2, 1.61-2(d)(4), 1.461-1(a), -4(a), (e), (g)(3), -5(a), (b), 1.263(a)-4(d)(3), (f)(1)      
• Freeland: 618-649
• TWEN: Rev. Rul. 2004-34; Artnell Co. v. Comm’r, 400 F.2d 981 (7th Cir. 1968)
• Problems: p. 645 #1, 2(c),(d),(e), (f) 3;p.649 #1(a), (b), (c)