Tax Policy - LAW 6224

Credits Hours: 2

Concerns the policy aspects of taxation, especially federal income taxation. Topics include the broad structure of the federal system of taxation and of the political forces shaping it; the effect of untaxed “imputed” income; whether the tax system should provide for progressive or “flat” rates; tax issues arising from marriage and other family relationships; whether some form of consumption taxation should replace the federal income tax; estate taxes; the proper income tax treatment of property passing at death; the concept of “tax expenditures;” the proper tax treatment of personal injury awards; the proper federal tax treatment of a taxpayer’s state and local taxes; whether income earned by a corporation and subsequently distributed as dividends should be taxed to both the corporation and the shareholders; whether capital gains should be taxed differently from ordinary income; and how to deal with the distorting effects of inflation in the measurement of taxable income.

Required: Elective
Practice Area: Taxation
Prerequisites: Federal Income Taxation