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Understanding Federal Income Taxation, 5th ed.

Carolina Academic Press has just published, Understanding Federal Income Taxation, 5th ed. by J. Martin Burke and Michael Friel, which is now on the law library's new titles shelf (KF6369.3.B87 2016). This is an excellent source for those wishing to obtain a background in federal income tax law and ideal for those taking a federal income tax class. This forty-four chapter book includes excerpts of relevant Internal Revenue Code (I.R.C.) sections as well as examples and analyses that illustrate tax concepts. Computation of tax liability, gross income concepts and limitations, capital gains and losses, bad debts, fringe benefits, like-kind exchanges, gifts, discharge of indebtedness, depreciation, travel and education expenses, deductions, limitations on tax shelters, and the alternative minimum tax are among the topics covered. There are tables of statutes, cases, and agencies as well as a subject index.

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