Abstract

http://ssrn.com/abstract=2232316
 


 



Recent Developments in Federal Income Taxation: The Year 2012


Martin J. McMahon Jr.


University of Florida - Levin College of Law

Ira B. Shepard


University of Houston Law Center

Daniel L. Simmons


University of California, Davis - School of Law

February 12, 2013

Florida Tax Review, Vol. 13, No. 503, 2013

Abstract:     
This recent developments outline discusses, and provides context to understand the significance of, the most important judicial decisions and administrative rulings and regulations promulgated by the Internal Revenue Service and Treasury Department during the year 2012 — and sometimes a little farther back in time if we find the item particularly humorous or outrageous. Most Treasury Regulations, however, are so complex that they cannot be discussed in detail and, anyway, only a devout masochist would read them all the way through; just the basic topic and fundamental principles are highlighted — unless one of us decides to go nuts and spend several pages writing one up. This is the reason that the outline is getting to be as long as it is. Amendments to the Internal Revenue Code generally are not discussed except to the extent that (1) they are of major significance, (2) they have led to administrative rulings and regulations, (3) they have affected previously issued rulings and regulations otherwise covered by the outline, or (4) they provide Dan and Marty the opportunity to mock our elected representatives; again, sometimes at least one of us goes nuts and writes up the most trivial of legislative changes. This year, because of its importance, the outline includes extensive discussion of the American Taxpayer Relief Act of 2012. The outline focuses primarily on topics of broad general interest (to the three of us, at least) — income tax accounting rules, determination of gross income, allowable deductions, treatment of capital gains and losses, corporate and partnership taxation, exempt organizations, and procedure and penalties. It deals summarily with qualified pension and profit sharing plans, and generally does not deal with international taxation or specialized industries, such as banking, insurance, and financial services.

Number of Pages in PDF File: 220

Keywords: income taxation, corporate taxation, individual taxation, partnership taxation, tax shelters, tax procedure

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Date posted: March 13, 2013  

Suggested Citation

McMahon, Martin J. and Shepard, Ira B. and Simmons, Daniel L., Recent Developments in Federal Income Taxation: The Year 2012 (February 12, 2013). Florida Tax Review, Vol. 13, No. 503, 2013. Available at SSRN: http://ssrn.com/abstract=2232316

Contact Information

Martin James McMahon Jr. (Contact Author)
University of Florida - Levin College of Law ( email )
P.O. Box 117625
Gainesville, FL 32611-7625
United States
352-273-0931 (Phone)
352-392-7647 (Fax)
Ira B. Shepard
University of Houston Law Center ( email )
100 Law Center
Suite 230 BLB
Houston, TX 77204-6054
United States
Daniel L. Simmons
University of California, Davis - School of Law ( email )
Martin Luther King, Jr. Hall
Davis, CA 95616-5201
United States
(530) 752-2757 (Phone)
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