Federal Income Taxation, Third Edition (Aspen Casebook Series)

Unique in its structure, Federal Income Taxation, Third Edition, presents core materials that cover the basics of tax law and then offers "cells" at the end of the book that are self-contained units with more in-depth discussion of certain topics. This flexible structure allows teachers to customize their tax course by selecting only the additional in-depth materials they want to use.

This stellar author team, with years of scholarship and teaching experience, presents:

• a core text of about 500 pages, which covers the leading cases and explains the substantive tax law that is essential to a basic understanding of federal income tax law and principles
• self-contained, optional units at the end of the book - "cells" that supplement the core text by providing additional material and treating a limited number of topics in greater detail
• notes and questions that provide background information and place the cases and statutes in context
• more than 100 problems interspersed throughout the core text and the cells that challenge students to apply theory to specific situations

Thoroughly and thoughtfully updated, the Third Edition adds:

• important tax litigation passed since the last edition was published
• up-to-date coverage of the American Recovery and Reinvestment Act
• the new revenue ruling explaining the tax rules applicable to the victims of Madoff-type Ponzi schemes
• a new case dealing with the effect of public policy limitations on business expense deductions on a taxpayer distributing medical marijuana in compliance with California law
• updated information on the ongoing crisis of the alternative minimum tax
• updated provisions that are adjusted annually for inflation including rate brackets, personal exemptions, standard deductions, earned income phase-outs, and eligibility for various credits and deductions

Federal Income Taxation, Third Edition, not only strikes exactly the right balance between being too simplistic and too complicated, its distinctive organization allows for variety in teaching that no other single book can offer.