Federal Income Tax

4 units

This four unit course is a survey of the federal income taxation of individuals, with consideration of the nature of income, when and to whom income is taxable, exclusions from the tax base, deductions, credits and the tax consequences of property ownership and disposition. The instructor emphasizes tax policy and statutory interpretation. Students will work extensively with cases and problems in the course textbook, the Internal Revenue Code and Regulations, and supplementary handout materials and problems provided by the professor. The course grade will be based on an in-class, open-book final examination, which will include both essays and short answers, and class participation.