This course is a study of the general principles of federal income taxation with emphasis on problems of the individual taxpayer. Using the Internal Revenue Code students study income and deductions, capital gains, tax accounting and other tax-related topics. This course may not be substituted for TAX 300 without completing TAX 425 as well. Students study corporate tax, partnership tax, and other tax-related topics at an advanced level.
Emphasis is placed on the use of the Internal Revenue Code.
Consideration will also be given to the proper form of citation for various legal authorities encountered during tax research and to the techniques required for the adequate reporting of research results. The use of the Internet and CCH Tax Research Network TM will also be studied. It will be assumed that all students taking this course have a thorough knowledge of all but the most advanced research techniques. When taken by an M.S.T. student, the course must be taken no later than as the sixth three credit hour course. This course is a study of the basic principles of law and taxation.