Acing Federal Income Tax
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Acing Federal Income Tax is a new study aid from Professor Samuel A. Donaldson of the University of Washington School of Law. Using the innovative format of the Acing Series, this cutting-edge title uses a detailed checklist format to help students navigate systematically through the provisions of the Internal Revenue Code that are commonly studied in introductory federal income taxation courses. Acing Income Tax helps students through the most challenging part of a first course in taxation: arranging and synthesizing all of the Code provisions, cases, rulings, and regulations on a given topic into a coherent, step-by-step resource that the student can use to analyze a tax question accurately and thoroughly. Despite its compact size, Acing Income Tax is complete with summaries of key topics and sample problems with detailed analysis. No other study aid in the field offers so much value per page!
Black Letter Outline on Corporate Taxation
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This comprehensive and clearly written text is designed to help students recognize and understand the basic principles and issues covered in law school courses in corporate taxation at both the J.D. and LL.M. levels. It explains all the fundamental concepts and transactions affecting C and S corporations and their shareholders, and includes numerous illustrative examples, self-test questions with answers, and sample exam questions. The Ninth Edition incorporates all relevant provisions of the 2017 legislation known as the Tax Cuts and Jobs Act.
Black Letter Outline on Federal Income Taxation
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Black Letter Outlines are designed to help a law student recognize and understand the basic principles and issues of law covered in a law school course. Black Letter Outlines can be used both as a study aid when preparing for classes and as a review of the subject matter when studying for an examination. Each Black Letter Outline is written by experienced law school professors who are recognized national authorities in their subject area.
Black Letter Outline on Federal Wealth Transfer Taxes
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Black Letter Outlines are designed to help a law student recognize and understand the basic principles and issues of law covered in a law school course. Black Letter Outlines can be used both as a study aid when preparing for classes and as a review of the subject matter when studying for an examination. Each Black Letter Outline is written by experienced law school professors who are recognized national authorities in their subject area.
Black Letter Outline on Partnership Taxation
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This comprehensive and clearly written text is designed to help students recognize and understand the basic principles and issues covered in law school courses in partnership or pass-through entity taxation at both the J.D. and LL.M. levels. It explains all the fundamental concepts and transactions affecting partnerships, limited liability companies, and S corporations and includes numerous illustrative examples, self-test questions with answers, and sample exam questions. The Ninth Edition incorporates all relevant provisions of the 2017 legislation known as the Tax Cuts and Jobs Act.
Examples and Explanations for Federal Income Tax
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A favorite classroom prep tool of successful students that is often recommended by professors, the Examples & Explanations (E&E) series provides an alternative perspective to help you understand your casebook and in-class lectures. Each E&E offers hypothetical questions complemented by detailed explanations that allow you to test your knowledge of the topics in your courses and compare your own analysis. Here's why you need an E&E to help you study throughout the semester: Clear explanations of each class topic, in a conversational, funny style. Features hypotheticals similar to those presented in class, with corresponding analysis so you can use them during the semester to test your understanding, and again at exam time to help you review. It offers coverage that works with ALL the major casebooks, and suits any class on a given topic. The Examples & Explanations series has been ranked the most popular study aid among law students because it is equally as helpful from the first day of class through the final exam.
Federal Estate and Gift Taxation in a Nutshell
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This comprehensive guide can serve either as a course supplement or as a refresher for members of the bar. Expert commentary summarizes the law and offers critical perspectives on the estate, gift, and generation-skipping transfer taxes, including lifetime and testamentary transfers, joint-and-survivor tenancies, life insurance, annuities, and powers of appointment; inclusion and valuation; exemptions and exclusions; deductions; and tax liabilities. Additional chapters cover basic tax and estate planning concepts, reform proposals, and fundamental alternatives to the current transfer tax system.
Federal Income Taxation of Estates, Trusts, and Beneficiaries in a Nutshell
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This volume can serve either as a course supplement or as a refresher for practicing lawyers. It provides a clear and accessible explanation of the federal income taxation of estates, trusts, and beneficiaries, focusing on key provisions of the Code and regulations as well as judicial decisions and administrative rulings. Numerous examples illustrate practical applications of the relevant rules. Topical coverage includes the decedent's final income tax return; income in respect of a decedent; classification of estates and trusts; distributable net income; simple and complex trusts; distributions; grantor trusts; charitable trusts; and foreign trusts.
Federal Income Taxation of Individuals in a Nutshell
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How and when is income taxable? To whom will it be taxable? This Nutshell summarizes the U.S. federal income tax law for individuals, defines income, and identifies the different types of deductions available to a taxpayer. The book explains statutory inclusions and exclusions from gross income, profit-related deductions, mixed deductions, personal deductions, other allowances, and the rules for determining taxable income. Sales and dispositions of property, taxation of capital gains and losses, and special tax rates are covered. The book also explores the policy and purposes of, and alternatives to, existing legal rules.
Federal Income Taxation of Partners and Partnerships in a Nutshell
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This book provides a concise overview of federal partnership taxation. It covers partnership formation, including contributions of property and admission of service partners, allocation of income and loss, tax accounting, and sharing of recourse and nonrecourse liabilities. Building on this foundation, the book also addresses advanced topics, including transactions between partners and partnerships, sales of partnership interests, distributions of property, optional and mandatory basis adjustments, and planning for retirement or death of a partner. Numerous concrete examples illustrate the tax treatment of specific transactions, allowing students to grasp the principles of partnership taxation in a problem-oriented course. The revised sixth edition reflects major tax legislation enacted in 2017 (the "2017 Act"), including choice of entity issues in light of the new 21% corporate tax rate and the § 199A passthrough deduction.
Gilbert Law Summaries, Taxation of Business Entities
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This outline discusses taxation of partnerships, including current partnership income, contributions of property to partnership, sale of partnership interest, distributions, and liquidations, as well as the taxation of corporations, including formation, corporate distributions, sales of stock and assets, and reorganizations, S corporations. The book has been updated to include discussion of the special taxation of Qualified Business Income and other changes adopted as part of the 2017 Tax Cuts and Jobs Act.
Gilbert Law Summaries, Taxation of Individuals
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Comprehensive outline on Income Tax law with detailed explanations of relevant law, capsule summary, and exam tips.
Gilbert Law Summary on Estate and Gift Taxation
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This Gilbert Summary on Estate and Gift Taxation includes a detailed substantive discussion of estate and gift taxation, including the generation-skipping transfer tax, marital deduction, powers of appointment, portability of the deceased spousal exclusion amount, valuation, disclaimers, and computation and payment of the taxes. It includes 100 multiple choice review questions and answers and numerous practice exam essay questions and answers.
Newman's a Short and Happy Guide to Federal Income Taxation, 3d
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A pleasant stroll through the thickets of the basic law school income tax course. Newman addresses all of the usual suspects, including income, deductions, capital gains, and timing. There are photos of narrow Amsterdam canal houses, an English building with bricked-up windows, and a short-tailed dog, to show how tax laws can change just about everything. Also, there is a photo of an outrageous ABBA costume, presumably deductible. Finally, there is a series of applications of basic tax principles to some of your favorite fairy tales.The 3rd edition takes into account changes made by the 2017 Tax Cuts and Jobs Act, but assumes that everything which was put on hold by that legislation through 2025 will be fully back in force in 2026.
Quick Review of Federal Estate and Gift Taxation
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Designed to make the study of federal estate and gift taxation simple, clear, and convenient, this updated fourth edition provides a basic explanation of the federal gift, estate, and generation-skipping transfer taxes. Written to facilitate an understanding of the overall structure of these taxes, the text discusses critical statutory provisions as well as relevant regulations and important cases. Topics include: valuation, the definition of a gift, the gift tax requirement of completion, the annual exclusion, the gross estate, estate tax deductions, and the generation-skipping transfer tax.
A Short and Happy Guide to Corporate Taxation
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Corporate taxation is widely considered one of the more difficult courses in the law school curriculum. The purpose of the book is to make the subject matter slightly less daunting by familiarizing the student with some of the core concepts of corporate taxation: distributions, redemptions, liquidations, divisions, reorganizations, and the like. Integrating black-letter law with a healthy dose of critical analysis, this Short and Happy tome can serve either as a stand-alone volume or as a complementary study aid to a longer and undoubtedly dourer textbook.
A Short and Happy Guide to Tax Policy
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We spend a fair amount of time in law school talking about the taxation of income. What about taxing other things, like spending, wealth, luxury and sin? What about funding government in other ways, like borrowing money, printing money, building toll bridges, and selling lottery tickets? This Short and Happy Guide considers all of these possibilities. Would taxing spending (sales taxes, value added taxes, or annual consumption taxes) be better than taxing income or wealth? Perhaps we should tax all of them. In fact, we do. This book considers each of these ways of funding government--how they work, and what makes them good or bad.
Tax Policy in a Nutshell
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Taxes impact every individual and business in the United States and around the world. Countries are constantly changing, modifying, and occasionally reforming their tax systems. Understanding tax policy and implementing changes in the tax law that are consistent with sound tax policy is critically important. This compact guide explains essential concepts in tax policy, including theories of taxation and their implementation, criteria in evaluating a tax system, tax bases, the Haig-Simons definition of income, Samuelson depreciation, the Cary Brown Theorem, capital gains and losses, tax expenditures, the distribution of the tax burden, and issues in corporate and international taxation. The book discusses the tax policy considerations of contemporary law, including the 2017 Tax Cuts and Jobs Act, the most comprehensive U.S. tax system reform in over thirty years.
Tax Procedure and Tax Fraud in a Nutshell
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The Sixth Edition of Tax Procedure and Tax Fraud in a Nutshell is designed to acquaint students with the theoretical and practical aspects of tax practice, from administrative or civil actions involving the Internal Revenue Service to criminal prosecutions brought by the Department of Justice. Specific coverage includes IRS and treasury rulemaking; IRS confidentiality and disclosure; ethical issues of tax practice; civil audits and administrative appeals; assessment issues; the collection process; civil and criminal penalties; statutes of limitations; civil litigation considerations in the various tax forums; civil and criminal IRS investigations; and tax crimes and prosecution.
Understanding Corporate Taxation
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This clearly written treatise is designed to make the complex subject of corporate taxation very accessible. It uses straightforward language, charts, checklists, diagrams, and numerous examples to aid readers' understanding, and the fourth edition is fully updated for the 2017 tax changes and the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Understanding Corporate Taxation also includes discussion of relevant cases. It is designed to supplement any corporate tax casebook or to be used on its own. The book starts with an introductory chapter that discusses the choice of business form; details the general principle that corporate profits are subject to double taxation (once at the corporate level and again at the shareholder level); introduces the Qualified Business Income deduction; and discusses the basics of anti-abuse rules, such as the step-transaction doctrine. Those anti-abuse rules are explored in more detail in a later chapter, as are proposals to partially or fully eliminate double taxation. The next several chapters are organized using a cradle-to-grave approach that traces the life cycle of a corporation, beginning with formation and capitalization and ending with liquidation of the corporation. Between those events, the book discusses operational issues, including the capital structure of a corporation, distributions of cash or property, stock redemptions, and stock dividends. After corporate liquidations, the book explores more advanced topics, such as taxable stock or asset acquisitions; non-taxable corporate reorganizations and divisions; the carryover of tax attributes (such as net operating losses) following certain non-recognition transactions; and the treatment of corporate tax shelters. In addition, a chapter addresses the taxation of S corporations, which generally provides a single-tax paradigm. That chapter also discusses the Qualified Business Income deduction in detail, including several examples.
Understanding Estate and Gift Taxation
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Understanding Estate and Gift Taxation is designed primarily for use by law students taking a course on the United States transfer tax system, i.e., a course on the estate, gift, and generation-skipping transfer taxes. The book consists of 26 chapters, each addressing one of the basic topics typically covered in a course on the transfer tax system, including the computation of estate, gift, and generation-skipping transfer taxes; the gift tax annual exclusion; the estate and gift tax marital deductions; and the estate and gift tax implications of transfers with retained powers or interests. Because the Internal Revenue Code and Treasury Regulations are the primary source materials for the transfer tax system, the book includes numerous excerpts of those provisions. Each chapter also includes summaries of the leading cases and IRS rulings, plus examples of how this area of the law applies to common fact patterns. Understanding Estate and Gift Taxation is designed primarily for law students, but it is also intended to be useful to practitioners, including generalists who need a relatively brief summary of an estate and gift tax topic, beginning lawyers who intend to specialize in estate and gift taxation and estate planning, and experienced lawyers who wish to expand their practices into estate and gift taxation and estate planning. The book similarly would be useful to accountants who practice in these areas.
Understanding Federal Income Taxation
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The seventh edition of Understanding Federal Income Taxation is a guide for students studying federal individual income taxation. Adopting material from the authors' casebook Taxation of Individual Income, thirteenth edition, the book is specifically designed for law students using other casebooks who seek supplemental material to assist them in their study of federal individual income taxation. The book consists of forty-two chapters with each chapter addressing a basic topic in individual income taxation, e.g., the taxation of personal physical injury award, gifts, devises and inheritances, the taxation of gains from the sale or exchange of property, and the tax consequences of divorce. Each chapter provides a detailed explanation of the interpretation and application of relevant Internal Revenue Code provision(s) and Treasury Regulations as well as summaries of leading cases and administrative rulings. The practical application of these authorities is illustrated in the numerous examples contained in each chapter. Because the provisions of the Internal Revenue Code are necessarily at the heart of tax study, each chapter also includes a part or all of the Code section(s) pertinent to the chapter topic. In summary, the book provides a detailed overview of the principles, policies and law underlying federal individual income taxation.
Understanding Partnership and LLC Taxation
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Understanding Partnership and LLC Taxation provides a comprehensive analysis of one of the most complex areas of the Internal Revenue Code. Using examples and computational illustrations, this treatise is designed for ease of use by practitioners and law students. In addition to clear, to-the-point explanations of law, Understanding Partnership and LLC Taxation includes practice and planning notes and extensive citation to relevant cases, statutes, and regulations, thereby making it an excellent quick reference tool. The new fifth edition discusses important recent legislation, regulations, cases, and administrative rulings. The text is an essential source for answers and guidance regarding partner/partnership and LLC tax issues. Its straightforward approach and hands-on, practical examples will make this your fundamental reference tool for partnership and LLC taxation issues. Topics covered include: Determining the business form to adopt; Allocating income or loss among partners or LLC members; Distributing property to a partner or LLC member; Using family partnerships and LLCs; Selling or liquidating a partnership or LLC interest; Terminating a partnership; Determining a partner's/member's basis in a partnership/LLC interest; Special rules for family partnerships/LLCs; and Tax consequences when a partner/member dies.
Emanuel CrunchTime for Basic Federal Income Tax
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When it's exam time you need the right information in the right format to study efficiently and effectively. Emanuel® CrunchTime is the perfect tool for exam studying. With flowcharts and capsule summaries of major points of law and critical issues, as well as exam tips for identifying common traps and pitfalls, sample exam and essay questions with model answers - you will be prepared for your next big test. Here's why you will need Emanuel® CrunchTime to help you ace your exams: Perfect for the visual learner: The flow charts walk you through a series of yes/no questions that can be used to analyze any question on the exam. Featured capsule summaries help you quickly review key concepts not just before the exam, but throughout the semester Exams Tips recap the most commonly tested issues and fact patterns.
Emanuel Law Outlines for Basic Federal Income Tax
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Any law school graduate will tell you that when picking your outline tool you need to pick the best because your outlines are the most important study tool you will use throughout your law school career. Developed by legendary study aid author Steve Emanuel, Emanuel® Law Outlines (ELOs) are the #1 outline choice among law students. An ELO ensures that you understand the concepts as you learn them in class and helps you study for exams throughout the semester. Here's why you need an ELO from your first day of class right through your final exam: ELOs help you focus on the concepts and issues you need to master to succeed on exams. They are easy to understand: Each ELO contains comprehensive coverage of the topics, cases, and black letter law found in your specific casebook, but is explained in a way that is understandable. The Quiz Yourself and Essay Q&A features help you test your knowledge throughout the semester. Exam Tips alert you to the issues and fact patterns that commonly pop up on exams. The Capsule Summary provides a quick review of the key concepts covered in the full Outline--perfect for exam review!
Exam Pro on Federal Income Tax (Objective)
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Completely revised and up to date with all the new tax laws, this third edition of Exam Pro on Federal Income Tax contains 200 multiple-choice questions derived from actual final examination questions. The questions are "challenging" and provide you with a comprehensive landscape of the concepts and topics covered in a typical Federal Income Tax course. The "Answer Keys" contain thorough analyses that explain relevant Federal Income Tax rules in a logical, step-by-step approach to help you skillfully apply the rules to various fact patterns. The questions, and accompanying answers, also serve as a valuable resource for approaching and answering exam essay questions. Exam Pro on Federal Income Tax helps deconstruct even the most complex tax concepts into digestible components.
Exam Pro on Partnership Taxation
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The Second Edition of the Exam Pro on Partnership Taxation extends the approach of the original as a partnership tax study guide with questions and answers. Completely revised and updated, it includes lectures and study questions on the deduction for qualified business income under section 199A, the new regulations on allocating partnership recourse debt, and the choice of entity for conducting business and investment activities. New sample exams at the basic, intermediate and advanced levels give you an even better shot to ace your partnership tax exam. The book is designed to help JD and LLM students from the first day of class. It begins with over 50 short lectures on topics in partnership tax ranging from basic to advanced, illustrated by over 280 study questions, each with a complete explanation of the right (and wrong) answers. Several of the lectures focus on the basic accounting concepts that are essential to understanding partnership tax, to give students with no prior accounting background the tools they need to succeed in this subject. The book includes twelve sample exams (a total of 120 more questions) that, like the lectures, increase in difficulty from basic to advanced, labeled so that students can pick the exams that are right for them and the course they are taking. Full answers to each of the exam questions are provided, with cross-references to the lectures and the study questions. Robert R. Wootton, Professor Emeritus of Practice of Law, and Sarah B. Lawsky, Professor of Law, teach partnership tax at Northwestern Pritzker School of Law.
Doti's Sum and Substance Audio on Federal Income Tax, 7th
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The Sum & Substance Audio Series allows you to assimilate the essentials of the course at your convenience - listen while working, commuting, exercising or just relaxing. The information and ideas you struggled with previously are now brought to life simply and succinctly. The series provides Quick Reference Indexing, allowing you to quickly locate every topic in the entire recording. Also provided are exam tips to maximize your performance and Lifetime guarantee. These audios are time saving, convenient and effective.
Office Hours on Advanced Tax Topics
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Gain the advantages of office hours with professors on your own schedule! The West Academic Office Hours series is a collection of short audio and video tracks that tackle some of the thorniest questions plaguing law students. The professors answer students’ most frequently asked office hour questions. With clear and easy-to-understand explanations, these professors will help you reach that “lightbulb” moment of comprehension, just as they have with their own students in their own offices. You now have virtual faculty explanations available at the click of a button! The Office Hours series features a variety of notable law faculty explaining these tough topics in new and thoughtful ways.
Office Hours on International Taxation
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Gain the advantages of office hours with professors on your own schedule! The West Academic Office Hours series is a collection of short audio and video tracks that tackle some of the thorniest questions plaguing law students. The professors answer students’ most frequently asked office hour questions. With clear and easy-to-understand explanations, these professors will help you reach that “lightbulb” moment of comprehension, just as they have with their own students in their own offices. You now have virtual faculty explanations available at the click of a button! The Office Hours series features a variety of notable law faculty explaining these tough topics in new and thoughtful ways.
Tax: In Other Words Audio Series
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The audio files from the In Other Words series cover fundamental topics in law. Each lecture is written and presented by a law professor or legal practitioner. In these Taxation lectures, Tessa Davis explains the topics of Gain, Basis, and Amount Realized, Debt and Basis, Character of Income, Transfers Between Spouses and Family Members, Tax Liability, Key Tax Policy Concepts, Gross Income, Depreciation and Amortization, S1031 Like-Kind Exchanges, and Cost Recovery.
Tax: In Other Words Video Series
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The videos from the In Other Words series cover fundamental topics in law. Each video is written and presented by a law professor or legal practitioner. In this Taxation video, Tessa Davis explains the topic of Gain, Basis, and Amount Realized.
Corporate Income Tax Accounting
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Accounting for income taxes has become a critically important issue for both financial accounting and income taxation purposes in recent years. However, there is nothing new about the need to account for income taxes for purposes of presenting, or to opine upon, the financial accounts of corporations or other business entities. The process of accounting for tax matters has been a traditional aspect of the responsibilities of finance and taxation officers of business entities, particularly publicly traded corporations, for many years. The nature of the process has long been familiar. In essence, there are a number of parties in this process: (i) business entities, (ii) tax administrations, (iii) financial accounting standards organizations, (iv) auditors of the business entities, and (v) tax strategists seeking to achieve overall tax/finance results for business entities. Each party has its own interests. The purpose of this text is to discuss and explain the pertinent elements of the intersection of financial accounting and taxation. The goal is to: (i) articulate the reality of financial accounting and tax compliance in light of the new landscape entities face on such matters today; and (ii) set out a means by which entities can structure their tax planning and financial reporting in a manner to efficiently meet all applicable requirements. Key differentiators in the text are liberal use of numerical examples, excerpts from companies' financial statements, and opinions on murky issues due to the complex and dynamic interdependence of financial accounting and income tax principles.
Federal Corporate Taxation
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The eighth edition of this popular student supplement retains the cradle-to-grave ordering of prior editions and is updated to reflect changes made by the Tax Cuts and Jobs Act as well as other recent changes in the law. In addition to using a "cradle-to-grave" approach to corporate taxation, the book features a discussion of taxable and tax-free corporate acquisitions and penalty provisions. It also surveys the tax treatment of S corporations and (briefly) consolidated groups. Full of examples with explanations of both how and why the system works as it does, this book can be used alongside any standard casebook. It may also be used as a primary text for those who emphasize the problem method and have developed their own problem set.
Federal Income Taxation
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This highly-acclaimed text explains the conceptual basis of federal income taxation. It is designed to help students quickly pull together the entire subject for end-of-semester review and provide perspective about where a topic fits within the federal income tax scheme. While focusing on the present income tax, the text provides an explanation of the often-discussed consumption tax and contrasts the two taxes in a note at the end of the volume. The new edition reflects developments since the fourteenth edition, including the promulgation of regulations interpreting major provisions of the Tax Cuts and Jobs Act of 2017. It also features new or expanded discussions of several topics, including: possible legislative reconsideration of the realization requirement (in the context of "billionaires' tax" proposals); the long-term shift from deductions to credits in the design of nonbusiness tax expenditures, and the new and used electric car credits introduced by the Inflation Reduction Act of 2022.
International Taxation
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This helpful study aid addresses the international taxation aspects of the U.S. tax system. In recent years, there has been an effort among the G-7 nations to better align their domestic tax laws. As a result, principles and enforcement mechanisms found in the U.S. tax system increasingly may resemble those of other nations. However, even though there may be similarities in the design of the tax laws of different nations, ultimately the study of international taxation represents a study of the laws of a particular nation. Thus, this book focuses on the study of U.S. taxation as applied to economic activity with an international element. The Fifth Edition is divided into three sections: common elements of international taxation for both inbound and outbound taxation, inbound U.S. taxation, and outbound U.S. taxation. Special attention is focused on base erosion and profit shifting strategies and the resulting complexity that has been added to the U.S. tax regime to address this phenomenon in the inbound and outbound context. This new offering is from the Concepts and Insights Series and is designed as recommended reading to complement casebook instruction.
Partnership Income Taxation
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This book provides the simplest possible introduction of partnership taxation to students and beginning practitioners trying to understand the taxation of partnerships. Partnership taxation is an intricate body of law with the result that any "simplified" description of its rules would be so misleading as to be useless. We have therefore tried to make the subject accessible not by paraphrasing the rules, but by including over one hundred and forty examples of the rules that are as straightforward as possible. The text and examples focus on simple partnerships and limited liability companies that hold few assets and engage in routine transactions. The text places the rules in context by pointing out the purposes of the statute and regulations and presenting background information about practical matters such as how partnerships maintain capital accounts and how nonrecourse financing works. Using many examples, it then shows the operation of the rules in everyday cases encountered by practitioners. This is not a reference book: many interesting and difficult issues have been ignored. Some matters, such as the application of § 736 to noncash distributions and the taxation of tiered partnerships, are not discussed at all. Most of the points that are addressed, however, are discussed at considerable length. Our goal is to give students and beginning practitioners background material and illustrations so that they can begin to understand and work with a statute that was drafted for (and by) experienced practitioners and so that they can be prepared to make sense of the current law and any future changes. Most chapters end with a section comparing the tax treatment of partners with that of the shareholders of S corporations. Many students encountering partnership taxation for the first time have already studied subchapter S. We expect that an examination of some of the basic differences between subchapters S and K should help those students understand both subjects.
Principles of Corporate Taxation
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The book is not organized according to the chronological life of a corporation. Instead, the book begins by examining the tax treatment of a withdrawal of property from an existing corporation. The reason for choosing that organization is that the concepts embodied in such topics as dividends, earnings and profits, and stock redemptions are the fundamental building blocks on which the more complex provisions of corporate taxation rest. The authors explain the technical operation of the various Code provisions and provide numerous examples illustrating how they are applied and how several provisions must be read in concert with each other.
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