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College of Law

Income Taxation

Course Number: 6320
Professor: James M. Delaney
Credit Hours & Type of Credit: 3
Semester Offered: Spring
Required: No
Prerequisites: Students must have completed their first year of law school.
Recommended Courses: None

Course Overview: Income Taxation focuses on the federal taxation of individuals. It includes taxation of compensation, installment sales as well as taxation of gains on property transfers. We will begin by studying what constitutes income and generally move through the deduction, timing and characterization sections of the Internal Revenue Code (the Code). The objective will be to enable you to understand the overall structure and application of the Code and to advise clients on issues pertaining to what constitutes taxable income in a given taxable year.

Course Materials: See the current Book List located under Courses and Curriculum.
Course Format: The course will use the problem method. You will be expected to closely read, analyze and apply the cases, Code and Treasury regulations that supplement the Code. Income tax is a prerequisite for Business Planning, Estate Planning and Taxation of Business Entities.
Written Assignments: None
Type of Exam: Final exam
Basis for Grading Student Performance: Final exam (95%) and class participation (5%).
Other Comments:

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