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    Read more about U.S. Federal Income Taxation of Individuals 2023

    U.S. Federal Income Taxation of Individuals 2023

    (2 reviews)

    Deborah A Geier, Cleveland State University Cleveland Marshall College of Law

    Copyright Year:

    Last Update: 2020

    Publisher: CALI's eLangdell® Press

    Language: English

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    Learn more about reviews.

    Reviewed by Judith Frame, Teaching Professor, University of Missouri - Kansas City School of Law on 6/19/18

    The text covers all the subjects/statutes that you would expect in an individual income tax text. It does not provide a Table of Cases or Table of Statutes or Regulations. However, the Table of Contents is sufficiently detailed that one is able... read more

    Reviewed by Laura Takasumi, Part- time Faculty, Portland Community College on 6/20/17

    This book needs editing. It focuses on the theory behind tax laws and does not cover the actual issues that tax attorneys or paralegals need to address on behalf of their clients. For example, the amount of text explaining gross income is... read more

    Table of Contents

    • Introduction

    Unit I: The Core Structures of Income and Consumption Taxation and Tax Policy

    • Chapter 1: The Essential Structure of the Income Tax
    • Chapter 2: Consumption Taxation and Our Hybrid Income/Consumption
    • Chapter 3: Ethical Debates, Economic Theories, and Real-World
    • Chapter 4: The Contours of “Capital Expenditure” v. Expense” (or Current Depreciation)

    Unit II: Two Types of Gross Income: Compensation and Residual Gross Income

    • Chapter 5: § 61(a)(1) Compensation
    • Chapter 6: § 61 Residual Gross Income

    Unit III: The Possibilities for Income Shifting

    • Chapter 7: Gifts and Bequests
    • Chapter 8: Income Shifting in the Happy and Fractured Family

    Unit IV: Everything You Ever Wanted To Know About Debt but Were Afraid To Ask

    • Chapter 9: Borrowing and Lending
    • Chapter 10: The Bad-Debt Deduction (for Lenders) and Debt-Discharge Income (for Borrowers)
    • Chapter 11: Debt and Property

    Unit V: The Ownership and Disposition of Property

    • Chapter 12: Properly Accounting for, and the Nonrecognition of, §110011 Realized Gain or Loss
    • Chapter 13: Depreciation in a Realization-Based Income Tax and the Business Interest Deduction
    • Chapter 14: Capital Gains and Losses
    • Chapter 15: Tax Shelters

    Unit VI: Distinguishing Between Income-Producing Activities and Personal Consumption and the Personal Consumption Tax Expenditures

    • Chapter 16: On Human Capital
    • Chapter 17: Homes, Health, Charity, and More
    • Chapter 18: Gambling and Hobby Losses
    • Chapter 19: Allocating Costs Between Income Production and Personal Consumption

    Unit VII: The Taxable Year and Methods of Accounting

    • Chapter 20: The Taxable Year
    • Chapter 21: Methods of Accounting

    Ancillary Material

    • Ancillary materials are available by contacting the author or publisher.
    • About the Book

      This is the tenth edition of this textbook, updated through December 15, 2022 for use beginning January 2023. 

      In addition to incorporating new law and all inflation adjustments, this edition builds on updates made for the ninth edition and incorporates new charts pertaining to economic and tax data, including December 2019 CBO charts showing that income inequality between 2015 and 2020 (with the Tax Cuts and Jobs Act enacted in 2017) worsened after taxes and transfers than before taxes and transfers are taken into account. 

      This textbook is not intended to be an exhaustive treatise; rather, it is intended to be far more useful than that for beginning tax law students by equipping the novice not merely with unmoored detail but rather with a rich blueprint that illuminates the deeper structural framework on which that detail hangs (sometimes crookedly). Chapter 1 outlines the conceptual meaning of the term income for uniquely tax purposes and examines the Internal Revenue Code provisions that translate this construct into positive law. Chapter 2 explores various forms of consumption taxation because the modern Internal Revenue Code is best perceived as a hybrid income-consumption tax that also contains many provisions that are inconsistent with both forms of taxation. Chapter 3 then provides students with the story of how we got to where we are today, important context about the distribution of the tax burden, the budget, and economic trends, as well as material on ethical debates, economic theories, and politics as they affect taxation.

      Armed with this larger blueprint, students are in a much better position to evaluate the myriad pieces that follow throughout the remaining 18 chapters. For example, they are in a better position to appreciate how applying the income tax rules for debt to a debt-financed investment afforded more favorable consumption tax treatment creates tax shelter problems. Stated another way, they can better appreciate how the tax system can sometimes be used to generate (or combat) unfair and economically inefficient rent-seeking behavior. 

      eBook versions (mobi and epub) will be available for free in early January 2023. 

      About the Contributors


      Professor Geier is a summa cum laude graduate of Baldwin-Wallace College and a magna cum laude graduate of the Case Western Reserve University Law School, where she was Articles Editor of the Law Review. Following her graduation, she clerked for the Honorable Monroe G. McKay of the United States Court of Appeals for the Tenth Circuit. Before joining the Cleveland-Marshall College of Law faculty in 1989, she was an associate in the tax group with the law firm of Sullivan & Cromwell in New York. She was a co-author of the 1st, 2nd, and 3rd editions of “Federal Income Tax: Doctrine, Structure, and Policy” (LexisNexis, with Joseph M. Dodge and J. Clifton Fleming), before writing this textbook in an effort to reduce student textbook costs.

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