Introduction to Income Tax

B650 is taught by D. Gamage, L. Lederman, W. Popkin

The principal subject matter of this course is federal income tax law, especially as it applies to individuals and families. Topics covered in this course include what constitutes income subject to tax and what is excludible; what is deductible; the tax treatment of gains and losses; and which income items are taxed at preferential rates. Learning to read and apply the Internal Revenue Code and Treasury Regulations is an important focus of this course. Other focuses of this course include understanding tax planning dynamics and how tax law relates to both tax politics and tax policy. This is an introductory course with no prerequisites. This course is a prerequisite for most other tax courses. For spring semester 2021, this course will be taught through a mixture of asynchronous video lectures and synchronous discussions through Zoom. The ratio of asynchronous to synchronous content will vary week by week and topic by topic, so as to use the instructional methodologies most appropriate for different sets of topics. Grading will primarily be based on an open-book take-home final exam.