Federal Income Taxation in Focus [Connected eBook with Study Center]

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The third edition of Federal Income Taxation in Focus continues to prepare students for the rigors of sophisticated tax practice and the challenges of more advanced courses in federal tax law. Author Bobby L. Dexter's engaging narrative style and generous use of examples and illustrations make tax law more enjoyable and interesting for students. The concepts, rules, and technical nuances of tax law are presented within a clear and logical framework. Hands-on pedagogy such as Real Life Applications, Applying the Concepts, and Federal Income Taxation in Practice provide plenty of opportunities for students to exercise such practice-based skills as critical analysis, problem solving, drafting legal documents, and preparing appropriate filings. 

New to the Third Edition 

• Major updates from key legislative developments in the 2025 Tax Act (Public Law 119-21), including: 
  • Tax rate relief
  • SALT cap enhancement (temporary)
  • Personal exemption for senior citizens (temporary)
  • Enhancements of the Child & Dependent Care Tax Credit and the Child Tax Credit
  • Deduction for Qualified Passenger Vehicle Loan Interest (temporary)
  • Deduction for Qualified Tip Income (temporary)
  • Deduction for Qualified Overtime Compensation (temporary)
  • Expensing of domestic research and experimentation costs
  • Modified treatment of wagering losses
  • Modified treatment of the charitable contribution deduction
  • Targeted limitation on overall benefit of itemized deductions
• Highlights from significant judicial developments from the U.S. Supreme Court
  • Loper Bright Enterprises v. Raimondo (regarding Chevron deference) 
  • Moore v. United States (regarding realization and allocated income)
• New cases and IRS pronouncements on key topics, including:
  • Innovative, modern forms of illegal income (and potential innocent spouse relief)
  • Medical expenses for the treatment of opioid abuse, nicotine addiction, and obesity
  • Virtual currency transactions and modern authority on the annual accounting mandate
  • Qualified intermediaries in the deferred like-kind exchange context
• Fresh problems on the deductibility of cyberattack ransom and the use of Artificial Intelligence in research and development
• 2023 Form 1040 of President Joe Biden and First Lady Dr. Jill Biden as well as the 2023 Form 1040 (Schedule A) of Vice-President Kamala Harris and Second Gentleman Douglas Emhoff
• Engaging new visuals to spark policy discussion and enrich students' knowledge base 

Professors and students will benefit from: 

• Exceptional writing that clearly explains the rules and concepts for students learning tax law for the first time 
• Key Statutory and Regulatory Provisions, chapter opener text boxes that focus students' attention on the specific Code subsections and Treasury Regulations covered in each chapter
• A wealth of visual content that place the subject matter in context, engage student interest, and help students master complex Code-based rules 
• A modern, 21st century approach that includes a refreshing infusion of recent authorities 
• A selection of cases, problems, and IRS pronouncements that are meaningful and relevant to students, legal professionals, and taxpayers generally

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