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- <ref>{{cite book |editor1-last= [[William D. Andrews|Andrews]], [[Peter J. Wiedenbeck|Wiedenbeck]] |title= Basic Federal Income Taxation |edition= Sixth |year= 2009 |publisher= Aspen Publishers ([[Wolters Kluwer]]) |location= |isbn= 978-0-7355-7768-8 |page= '''insert page number''' }} </ref>
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Basic Federal Income Taxation
editAndrews, Wiedenbeck FIFTH - 2009
editfull table of contents is here
Chapter 1 -- Introduction
editA. In General
B. Procedure and Administration
- 1. The Internal Revenue Service
- 2. Annual Returns
- 3. Investigation, Assessment, and Collection of Deficiencies
- 4. Refund Procedure
- 5. The Tax Court
- 6. Appellate Review
- 7. Statutes of Limitations
- 8. Interest, Penalties, and Costs
- 9. Withholding and Estimated Taxes
C. Constitutional Background
D. Sources of Federal Income Tax Law
E. A Glossary of Basic Terms and Issues
Bibliography
Part I -- Income
editChapter 2 -- Income in Kind
editA. Noncash Receipts in General
B. Statutory Exclusions
- 1. Meals and Lodging: §119
- 2. Certain Other Fringe Benefits: §132
- Fringe Benefits Provisions [new §§132 and 117(d)]
- 1. Owner-Occupied Housing
- 2. Other Consumer Durables
- 3. Household Services
- 4. Leisure
- 5. Borderlines
D. Alternative Formulations
E. Deductions
F. Microeconomic Effects
G. Taxing Employers in Lieu of Employees
- 1. Withholding
- 2. Other Possibilities
H. Other Items
Chapter 3 -- Compensation for Losses
editA. Damage Payments (In General)
B. Personal Injuries
- 1. In General
- 2. Nonphysical Injuries and Nonphysical Sickness
- 3. Punitive Damages
C. Insurance
- 1. Medical Insurance
- 2. Deducting Extraordinary Medical Expenses (Self-Insurance)
- 3. Disability Insurance
- 4. Life Insurance
D. Previously Deducted Losses
- 1. Annual Accounting
- 2. Tax-Benefit Limitations
- 3. The Inclusionary Side of the Tax-Benefit Rule
Chapter 4 -- Gifts and Kindred Items
editA. Income Interests
B. Appreciated Property
- 1. Inter Vivos Gifts: §1015
- 2. Property Acquired from Decedents: §§1014, 1022, & 691
C. Gratuitous Transfers Outside the Family
- 1. Prizes and Awards
- 2. Scholarships and Fellowship Grants
- 3. Commercial and Compensatory Gifts
- 4. Social Insurance and Welfare Payments
Chapter 5 -- Capital Appreciation
editA. Unrealized Gains
- 1. Interest
- 2. Present Discounted Value
- 3. After-Tax Returns
- 4. Effective Tax Rates
- 5. Tax Deferral as a Source of Capital
- 6. Fruits and Trees
- 7. The Equivalence of Tax Deferral and Yield Exemption
C. Realization
- 1. Leasehold Improvements
- 2. Mortgage Participation Exchanges
- 3. Constructive Sales
D. Nonrecognition Exchanges
- 1. Like-Kind Exchanges
- 2. Nonrecognition on Dispositions for Cash
- 3. Corporate Reorganizations and Transfers to Controlled Corporations
E. Deferred and Contingent Payment Sales
F. Capital Gains
G. Inflation
- 1. Bracket Creep
- 2. Income Mismeasurement
H. Taxing Consumption Instead of Total Accretion
Chapter 6 -- Return of Capital and Timing Issues
editA. Return of Capital
- 1. Timing Alternatives
- 2. Capital Expenditures, Depreciation, and Loss Deductions
B. Annuity Contracts
- 1. Life Annuities
- 2. Deferred Annuities [§72]
C. Cash Method Accounting and Its Limits
- 1. Constructive Receipt
- 2. Inclusion in Advance of Receipt: Debt Instruments
D. Accrual Method Accounting and Its Limits
- 1. Prepaid Income
- 2. Security Deposits
- 3. Inventories
- 4. Accruing Future Expenses
- United States v. General Dynamics Corp.
- Premature Accruals [§461(h)]
E. Inconsistent Methods and Matching
- 1. Related Party Transactions
- Treatment of Certain Related Party Transactions [§267]
- 2. Inconsistency Between Years
- a. Erroneous Treatment in Closed Year
- b. Changes in Accounting Method
F. Compensating Employees
- 1. Deferred Compensation
- 2. Stock Options and Restricted Property
Chapter 7 -- Receipts Subject to Offsetting Liabilities
editA. Cancellation of Indebtedness
- United States v. Kirby Lumber Co.
- Bankruptcy Tax Act of 1980
- David Zarin
B. Claim of Right
C. Embezzled Funds
- Crane v. Commissioner
- Parker v. Delaney
- 1. Inadequately Secured Nonrecourse Debt
- 2. Mortgaging Out
- 3. Gifts of Encumbered Property
Chapter 8 -- Tax Expenditures: State and Municipal Bond Interest
editA. The Exclusion of Interest on State and Local Obligations
- 1. Constitutional Considerations
- 2. The Subsidy to Issuers of Tax-Exempt Obligations
- Municipal Taxable Bond Alternative Bill of 1976
- 3. Tax-Exempt Borrowing to Finance Private Activities
- Tax-Exempt Bonds
B. Tax Expenditures in General
- Analytical Perspectives, Budget of the U.S. Government, Fiscal Year 2009
- Rethinking Tax Expenditures
C. Concepts of Income
Part II -- Deductions and Credits
editChapter 9 -- Deductions, Credits, and Computation of Tax
editA. Adjusted Gross Income
- 1. Costs Incurred in Carrying on a Business (Other than Employment)
- 2. Other Nonitemized (Above-the-Line) Deductions
B. Personal Exemptions and the Standard Deduction
C. Itemized Deductions
D. Miscellaneous Itemized Deductions
E. Applying the Rate Schedules
F. Credits
G. Additional Taxes
Chapter 10 -- Interest, Taxes, and Casualty Losses (Home Ownership)
editA. Interest
- 1. What Is Interest? §163(a)
- 2. Debt to Purchase or Carry Tax-Exempt Obligations: §265(a)(2)
- 3. Investment Interest
- 4. Home Mortgage and Other Personal Interest
- White, Proper Income Tax Treatment of Deductions for Personal Expense
B. Taxes
C. Homeowners
- 1. Distortion Produced by the Deductions
- 2. Exclusion of Imputed Rental Value
- Analytical Perspectives, Budget of the U.S. Government, Fiscal Year 2007
- President's Advisory Panel on Tax Reform, Simple, Fair and Pro-Growth
D. Casualty Losses
Chapter 11 -- Charitable Contributions and Tax Exemption
editA. Qualified Organizations
B. Unrelated Business Income
C. What Is a Contribution?
D. Appreciated Property
Chapter 12 -- Personal, Living, or Family Expenses
editA. Childcare
B. Clothing
C. Traveling: §162(a)(2)
- 1. Away
2. From Home
D. Travel and Entertainment
- 1. The 1962 Legislation
- 2. The 1986 Legislation
- Percentage Reduction for Meals & Entertainment
E. Activities Not for Profit (Hobbies)
F. Housing
- 1. Loss on Sale
- 2. Rental Losses
- 3. Home Offices
G. Marital Litigation]]
H. Education and Training
- 1. Business Expense Deduction
- 2. Tax Benefits for Education
Chapter 13 -- Business and Investment Expenses
editA. Ordinary and Necessary
B. Public Policy Limitations
C. Capital Expenditures
D. A Reasonable Allowance for Salaries
E. Carrying on Any Trade or Business
Chapter 14 -- Losses
editA. In General: §165
B. Wash Sales and Transactions Among Related Parties
C. Capital Losses: §1211
D. Section 1231
- 1. Property Used in a Trade or Business
- 2. Involuntary Conversions
- 3. Statutory Structure and Interpretation
E. Bad Debts
Chapter 15 -- Capital Cost Recovery
editA. What Is Depreciable
- 1. Antique Musical Instruments
- 2. Land and Improvements
- 3. Goodwill and Other Intangibles
- 4. Section 197
- Amortization of Goodwill and Certain Other Intangibles
B. Rates and Methods
- 1. The Straight-Line Method
- 2. Declining Balance Methods
- 3. Useful Lives
- 4. Optional Expensing
- 5. Alternative Depreciation -- §168(g)
- 6. Purposes for Setting Rates and Methods
C. The Economics of Capital Cost Allowances
- 1. Complete Acceleration, or Expensing
- 2. No Acceleration -- Economic Depreciation
- 3. Other Cases
D. Other Investment Stimuli
E. Disposition of Depreciable Property: Recapture or
Conversion
F. Depletion of Mineral Deposits
Chapter 16 -- Leverage, Leasing, and Tax Shelter Limitations
editA. Leverage
- 1. Overvaluation
- 2. The At-Risk Limitation
- 3. The Economics of Leverage and Taxes
B. Leasing
- 1. Real Estate
- 2. Machinery and Equipment
- Objective Guidelines Used in Structuring Transactions
- 3. Leasing to Tax-Exempt Entities
- Reform of Tax Treatment of Certain Leasing Arrangements
C. The Passive Activity Loss Limitation
- 1. Passive Activities
- 2. Disposition of Interests
- 3. Activities
- 4. Portfolio and Earned Income
- 5. Rental and Oil and Gas Activities
D. The Alternative Minimum Tax
- Present Law and Background Relating to the Individual Alternative Minimum Tax
E. Corporate Tax Shelters
Part III -- Attribution of Income Among Taxpayers
editChapter 17 -- Taxation and the Family
editA. Interspousal Income Attribution
- 1. First Principles
- 2. Split Income and Joint Returns
B. The Marriage Bonus and the Marriage Penalty
- 1. Constitutionality of the Marriage Penalty
- 2. Legislative Relief
- Repeal Two-Earner Deduction
- 3. Self-Help
C. Support, Gift, or Compensation?
D. Children and Dependents
- Adjust Tax Rate on Unearned Income of Minor Children
E. Separation and Divorce
- 1. Support Payments
- 2. Property Transfers
- Transfer of Property Between Spouses or Incident to Divorce [§1041]
Chapter 18 -- Investment Income
editA. The Basic Supreme Court Cases
- Corliss v. Bowers
- Douglas v. Willcuts
- Burnet v. Wells
- Blair v. Commissioner
- Helvering v. Clifford
- Helvering v. Horst
- Helvering v. Eubank
B. Statutory Rules for Nongrantor Trusts
- 1. Simple Trusts and Distributable Net Income
- 2. Complex Trusts and the Tier System
- 3. Accumulation Distributions
- 4. Fiscal Years
C. Grantor Trusts D. Interest-Free Loans
- Below-Market and Interest-Free Loans [§7872]
Part IV -- Capital Gains and Losses
editChapter 19 -- Capital Gains
editA. The Statutory Scheme
- 1. The Deduction for Capital Gains
- 2. Maximum Rates for Capital Gains
- 3. Capital Losses
- 4. Short-term Capital Gains (and Losses)
- 5. Section 1231
- 6. Definitional Problems -- Sale or Exchange
- 7. Definitional Problems -- Capital Assets
- 8. Depreciation Recapture
- 9. Qualified Dividends
- 10. The Multiple Rate Ceilings in §1(h)
B. The Quest for a Concept
- 1. Sale of a Business
- 2. A Temporary Taking
- 3. Discounted Notes and Bonds
- 4. Purchased Remainder Interests
C. Property Held Primarily for Sale to Customers
D. Reasons for Preferential Treatment of Capital Gains
Chapter 20 -- Capital Losses
editA. The Arrowsmith Doctrine
B. The Corn Products Doctrine
Chapter 21 -- Future Income Streams
editA. Receipt of a Lump-sum Payment for a Future Income Stream
B. Receipt of Payments out of a Future Income Stream
- Commissioner v. Carter
- Commissioner v. Brown
- Stern v. United States
- Busse v. Commissioner
- Commissioner v. Ferrer
Appendix -- Rates of Return and Effective Rates of Tax on Investments
Table of Cases
Table of Statutes
Table of Treasury Regulations, Revenue Rulings and Procedures, and Miscellaneous IRS Pronouncements
Commercial Outlines
editExternal Links
editReferences
edit- ^ Andrews, Wiedenbeck, ed. (2009). Basic Federal Income Taxation (Sixth ed.). Aspen Publishers (Wolters Kluwer). p. insert page number. ISBN 978-0-7355-7768-8.
- ^ http://bulk.resource.org/courts.gov/c/F2/453/453.F2d.61.40.71-1201.html