Recent Developments in Federal Income Taxation: The Year 2009

188 Pages Posted: 19 Apr 2010 Last revised: 26 Aug 2010

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

Abstract

This article 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 2008 – and sometimes a little farther back in time if the authors 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. Amendments to the Internal Revenue Code generally are discussed to the extent that (1) they are of major significance, (2) they have led to administrative rulings and regulations, or (3) they have affected previously issued rulings and regulations otherwise covered by the outline. The outline focuses primarily on topics of broad general interest – 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.

Keywords: Taxation, Federal Income Taxation, Individual Taxation, Corporate Taxation, Partnership Taxation, Federal Tax Procedure, Tax Penalties

JEL Classification: K34

Suggested Citation

McMahon, Jr., Martin J. and Shepard, Ira B. and Simmons, Daniel L., Recent Developments in Federal Income Taxation: The Year 2009. Florida Tax Review, Vol. 10, p. 79, 2010; University of Florida Levin College of Law Research Paper No. 2010-12; UC Davis Legal Studies Research Paper No. 220. Available at SSRN: https://ssrn.com/abstract=1592595

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 )

4604 Calhoun Road
Houston, TX 77204-6060
United States

Daniel L. Simmons

University of California, Davis - School of Law ( email )

Martin Luther King, Jr. Hall
Davis, CA CA 95616-5201
United States
(530) 752-2757 (Phone)

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