Taxation I

This course provides an overview of the federal income tax from learning to read the charming prose of the Internal Revenue Code to the principles and policies underlying the income tax, which is - by far - the largest source of revenue for the federal government (and some states, such as California). This class will provide the necessary foundations for taking more advanced tax classes but is also designed to provide crucial background for those pursuing careers in numerous other areas. For example, tax is crucial to the business lawyer's toolkit because most major business decisions have tax implications. Furthermore, because much - perhaps even most - of American public policy is conducted through the tax code, understanding tax is crucial for policy analysis. Elements used in grading: class participation and final exam.