Principles of Federal Income Taxation

Federal income tax concepts, including gross income, adjusted gross income, deductions, credits, gains and losses on dispositions of property, nonrecognition transactions, assignment of income, tax accounting, and other special topics. Emphasis will be placed on the Internal Revenue Code and Regulations as well as case law. At the end of the course, students will have developed the skills necessary to analyze the code, regulations, and case law. Students will be required to show evidence of scholarly research by the submission of a major paper dealing with an important tax issue.