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Fall 2019
LAW105  A  FEDERAL INCOME TAX I

Course Description
This course considers the core concepts in federal income tax. All of the following topics will take account of the changes made in the Tax Cuts and Jobs Act of 2017 and will follow new guidance issued by the Internal Revenue Service during the semester. We will consider the determination of income, deductions, and credits. We will look at the complex rules applicable to the computation and use of losses. We will consider a range of tax incentives, including accelerated depreciation and the earned income tax credit. We will also look at issues of income shifting in the taxation of families and the use of tax shelters to create losses or basis. Tax provisions must be comprehensible to taxpayers and administrable by the IRS, and we will consider this in considering how we might draft "better" tax provisions in some areas. In addition to introducing you to federal income tax, this course will help you develop skills that are important for effective practice in many areas of law, including tax: (1) working with statutes and regulations; (2) understanding business transactions; (3) planning for successful outcomes within the legal rules and principles that define an area of law.

Course Schedule
Dates Day Time Room
08-12-2019 - 11-21-2019   MTR  2:00 PM-3:20 PM E265

Course Frequency
This course is usually offered every semester

Course Information

Credits: 4
Pass/Fail Option: Yes
Prerequisite:
Grading: Graded
Method of Evaluation: Exam
Graduation Requirements Fulfilled By Course:
General
Special Attributes: None
Course Delivery:

Special Restrictions:
Law Track(s):
Business & Taxation - Basic
Entertainment, Music, & Sports - Related
Government & Regulation - Related
Bar Subject(s): None
Concentration(s):
The Business of Innovation, Law and Technology: BILT (Concentration)   More information
Social Justice & Public Interest (Area of Focus)   More information
Social Justice & Public Interest (Concentration)   More information
Course Book(s):
Textbook Required:
Yes  
  • Textbook Name: Federal Income Taxation
    Textbook Type: Hardcover
    Requirement: Required
    Author: Graetz, et al.
    Publisher: Foundation Press
    Edition: 8th edition
    ISBN: 978-1640206809
      
  • Textbook Name: Selected Federal Taxation Statutes & Regulations
    Textbook Type: Paperback
    Requirement: Required
    Author: Lathrope
    Publisher: West Academic
    Edition: 2020 edition
    ISBN: 978-1684673179
      
  
First Class Assignment(s):
  • Assignment: See the attached.

    Material:
    Graetz, Schenk, and Alstott, Federal Income Taxation: Principles and Policies (8th ed. 2018). Please Note: Do not use an earlier edition of the casebook. Only the current edition (the 8th edition) contains material relevant to the 2017 tax act, which made pervasive changes in the law considered in this course.
    A current edition of the Internal Revenue Code of 1986, as amended (the “Code”) and of the applicable Treasury Regulations (the Regs”). A current volume of selected Code sections and Regs considered in this course is available for purchase. This is dated 2020. We will use this volume extensively throughout the course.

    TWEN/Blackboard/Course Webpage Link:
    http://lawschool.westlaw.com/twen

    Additional Information:
    Information on Course Requirements and Procedures, a statement of Learning Outcomes, and the First Assignment are available on TWEN. The First Assignment is also attached here. If you have questions relating to this course before August 5, please email me at fhill@law.miami.edu.
      

    First Assign Intro to Concepts and Issues Aug 12.docx

 
Professor(s)

HILL, FRANCES


Biography
Contact Information:
Email: fhill@law.miami.edu
Phone: (305)284-2642
Office: G283