Advanced Introduction to Federal Income Taxation (Elgar Advanced Introductions series)

This Advanced Introduction provides a compact overview of US federal income tax, covering foundational topics such as deductions and credits, tax shelters, accounting and attribution. Richard Schmalbeck begins with a definition of gross income based on economic theory and examines the various modifications engrafted onto it under US federal law.

Key Features:

• Explores how income has been translated into the provisions of US statutes and codified in the Internal Revenue Code
• Examines the structure of American tax returns and their basic constituent elements: gross income, taxable income and deductions and credits
• Discusses the procedural aspects of enacting tax legislation and administering the income tax, including compliance and litigation of disputes

The Advanced Introduction to Federal Income Taxation is an essential resource for scholars and students of tax and fiscal policy. Non-specialist legal practitioners seeking an overview of this complex subject will also benefit from its succinct analysis and accessible style.