The Fourth Edition explores in depth in a single volume both the technical and policy issues associated with taxation of partnerships, C corporations,... and S corporations. It is specifically designed for a course focusing on comparison of partnerships, C corporations, and S corporations, while presenting selected in-depth coverage of advanced issues. Adaptable for use in a wide variety of courses or sequence of courses dealing with taxation of business organizations at either the J.D. or LL.M level, it can be used to teach partnership taxation, basic corporate taxation, or corporate reorganizations. Arrangement of both the subdivisions within the chapters and the detailed illustrative material following the principal cases facilitates assignment of selected portions of the material on any particular topic to suit the individual instructor's choice of method and scope of coverage. Within each section, the book moves from the straight-forward to the more complex rules associated with the topic. Materials on acquisitions and reorganizations are organized to facilitate selective coverage in survey courses.

This is a comprehensive casebook on federal income taxation of corporations, focusing almost entirely on issues arising under Subchapter C of the... Internal Revenue Code. It is aimed at students who have already completed a basic course in federal income taxation, and so have an understanding of basic tax concepts. In addition to helping students understand the statutes and their administrative and judicial overlays, the book encourages them to evaluate the law and the various proposals for changing it.

This 2011 supplement updates the casebook, which provides detailed information on federal income taxation of corporations. The casebook provides the... tools for fast, easy, on-point research and includes selected cases designed to illustrate the development of taxation of corporations.

This edition has been completely revised to reflect developments in the Code, Regulations, and case law through August 2007. The text focuses on the... corporation as a taxable entity and tracks the corporate life cycle from incorporation through complete liquidation. Includes discussion on nonliquidating distributions, redemptions, and stock dividends. Also addresses advanced problems in corporate taxation, such as taxable acquisitions, tax-free reorganizations and corporate divisions, and carryover of corporate tax attributes.

<p> <b>Federal Income Taxation of Corporations and Partnerships, Fourth Edition</b> , uses a problem- and example-based approach... to teaching the intricacies of taxing corporations and partnerships. If you’ve taught a course like this before, you already know that there’s no more effective way to convey the complexities of this subject than by having your students work through problems. If you’ve never taught this course before, you’ll be reassured by this casebook’s clarity, logic, and detailed Teacher’s Manual. </p> <p> The Fourth Edition welcomes <b>Don Leatherman</b> to its author team. Professor Leatherman is the <i>W. Allen Separk Distinguished Professor of Law at the University of Tennessee</i> and a recognized expert in corporate taxation. </p> <p> <b>Federal Income Taxation of Corporations and Partnerships features</b>: </p> <ul> <li> <b>a clear and approachable presentation </b></li> <li> well-crafted <b>problems and examples</b> </li> <li> <b>carefully selected cases</b> with <b>supporting note material </b></li> <li> <b>illustrations of typical commercial transactions </b></li> <li> consistent emphasis on <b>the major themes of policy and practice</b> </li> <li> <b>flexible organization</b> that adapts to two-, three, or four-credit courses • stand-alone coverage of C corporations, S corporations, and partnerships </li> <li> <b>extensive Teacher’s Manual</b>, with answers to all of the problems in the casebook </li> </ul> <p> <b>Updated throughout, the Fourth Edition offers</b>: </p> <ul> <li> <b>revised introductory materials</b> to reflect the fact that the tax rate on most dividends received by non-corporate shareholders has been lowered to match that of long-term capital gains — a change that makes many of the rules irrelevant, redundant, and potential traps for the unwary </li> <li> <b>expanded discussions of consolidated groups</b> and the use of disregarded entities in corporate transactions </li> <li> <b>expanded and refreshed coverage of partnership</b>, which now includes a variety of tax law changes made within the last seven years, and new problems throughout </li> <li> <b>a host of new developments in tax law and policy, including</b>: <ul> <li> <b>stronger rules prohibiting incorporation of losses</b> and other corporate anti-abuse rules </li> <li> <b>a broader use of the step-transaction rule</b> in corporate reorganizations </li> <li> <b>repeal of the collapsible corporation regime</b> </li> </ul> </li> </ul> <p> In <b>Federal Income Taxation of Corporations and Partnerships, Fourth Edition</b> , you’ll find all of the support that you need to teach this challenging subject with success—problems, examples, clear writing, timely cases, and a detailed Teacher’s Manual. </p> <p> </p> <p> </p>

The Third Edition explores both the technical and policy issues associated with taxation of passthrough entities and is designed to be useful regardless... of the individual instructor's teaching method. It is adaptable for use in either 2-, 3- or 4-credit hour course dealing with corporate taxation at either the J.D. or LL.M. level, while presenting selected in-depth coverage of advanced issues. Arrangement of both the subdivisions within the chapters and detailed Illustrative Material following the principal cases facilitates assignment of selected portions of the material on any particular topic to suit the individual instructor's choice of method and scope of coverage.

How and when is income taxable? To whom is it taxable? This Nutshell summarizes U.S. federal income tax law, defines income, and identifies the... different types of deductions. Explains statutory inclusion and exclusion from gross income, profit-related deductions, mixed deductions, personal deductions, and other allowances. Also inquires into the policy and purposes of, and alternatives to, existing legal rules.

Reliable source on the federal income taxation of partners and partnerships. Text contains an authoritative summary on the organization, tax accounting,... allocations, distributions, and liabilities of a partnership. Also discusses subjects such as contributed property, partner-partnership transactions, transferring interests, and what happens when a partner retires.

Federal Income Taxation of Trusts and Estates: Cases, Problems, and Materials examines the income taxation of estates and trusts, estate and trust... beneficiaries, and trust settlors; its emphasis is on the provisions of 'Subchapter J'; the relevant portion of the Internal Revenue Code (sections 641 through 692) and its first priority is to give readers an understanding of those provisions and how they work. The book takes four distinct, but integrated, approaches. At the beginning of each section, Ascher and Danforth present assignments of carefully selected provisions of the Internal Revenue Code and Treasury Regulations. Following are one or more precedents (cases or rulings) dealing with the topic at hand, accompanied by textual material that amplifies the topic by further analysis of the primary precedents, presentation of other precedents, or discussion of subsequent developments. Finally, numerous problems, where appropriate, allow the reader to apply the material to common fact patterns.The third edition brings the book completely up to date, and includes all relevant developments since the preparation of the second edition. Among the many important additions are the decision of the United States Supreme Court in Knight v. Commissioner, which just this year held that investment advisory fees paid by a trustee are subject to the 2% haircut under section 67; Mattie K. Carter Trust v. United States, in which the United States District Court for the Northern District of Texas held that it is not merely the activities of the trustee, but also those of the trustee s employees, that count toward the material participation requirement under the passive activity rules of section 469; and full incorporation of the trust accounting income regulations recently finalized by the Treasury. The third edition includes a number of new or revised problems, and it trims some materials relating to estate planning techniques that are now obsolete.