259A sec. 001 - Income Tax I (Fall 2022)
Instructor: Eric P. Rakowski (view instructor's teaching evaluations - degree students only | profile)
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Grading Designation: Graded
Mode of Instruction: In-Person
MTuW 10:00 AM - 11:10 AM
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From August 22, 2022
To December 01, 2022
Course End: December 01, 2022
Class Number: 31718
Enroll Limit: 120
As of: 02/17 06:39 AM
Income Tax I is an introductory class which virtually every law student should take. The federal tax rules affect almost every practice area, from family law and real estate transactions to all manner of businesses. The introductory course provides an overview of the federal income taxation of individuals. (More advanced courses focus on corporations, partnerships, international businesses and investment, and tax policy.) The course examines the values and group interests that shape the individual income tax and considers alternatives to current rules. Its chief focus, though, is on understanding what the law actually requires of individual taxpayers: what constitutes taxable income, which deductions and exclusions are available and for which reasons, who must pay tax (within family units, following divorce, and so forth), when a tax is owed if receipts span several years or precede contractual performance, and how capital gains receive preferential treatment. The course requires no familiarity with economics or accounting. No math skills are needed beyond basic arithmetic. There will be a final in-class, open-book exam.
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