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Introduction to Income Tax

B650 is taught by D. Gamage, L. Lederman, C. Ryan

This course introduces students to the principles and policies of federal income taxation, providing you with a framework for recognizing and dealing with tax issues and with tax-related strategies or transactions encountered in legal practice. You will leave the course with an understanding of the major theoretical and structural issues posed by an income tax, the policy considerations involved in resolving those issues, and the planning function provided by tax attorneys, as well as knowledge of the individual income tax treatment of various types of business and personal transactions and events, including: taxation of compensation and fringe benefits; taxation of various types of investment vehicles and debt-financed property transactions; issues related to capitalization and cost recovery; timing issues; and selected issues regarding taxation of the family. Above all, you will develop the skills necessary to engage competently in complex statutory interpretation, providing you with a necessary foundation for further legal studies including a tax law program. Grades will be based on your class participation, and your performance on problem sets and a final examination.