User:JD Caselaw/Basic Federal Income Taxation (Andrews)
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Basic Federal Income Taxation
[edit]Andrews, Wiedenbeck FIFTH - 2009
[edit]full table of contents is here
Chapter 1 -- Introduction
[edit]A. 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
[edit]Chapter 2 -- Income in Kind
[edit]A. 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
[edit]A. 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
[edit]A. 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
[edit]A. 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
[edit]A. 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
[edit]A. 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
[edit]A. 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
[edit]Chapter 9 -- Deductions, Credits, and Computation of Tax
[edit]A. 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)
[edit]A. 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
[edit]A. Qualified Organizations
B. Unrelated Business Income
C. What Is a Contribution?
D. Appreciated Property
Chapter 12 -- Personal, Living, or Family Expenses
[edit]A. 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
[edit]A. 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
[edit]A. 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
[edit]A. 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
[edit]A. 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
[edit]Chapter 17 -- Taxation and the Family
[edit]A. 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
[edit]A. 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
[edit]Chapter 19 -- Capital Gains
[edit]A. 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
[edit]A. The Arrowsmith Doctrine
B. The Corn Products Doctrine
Chapter 21 -- Future Income Streams
[edit]A. 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
[edit]External Links
[edit]References
[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