Recent Developments in Federal Income Taxation: The Year 2016

147 Pages Posted: 6 Apr 2017 Last revised: 27 Jun 2017

Martin J. McMahon, Jr.

University of Florida - Levin College of Law

Bruce A. McGovern

South Texas College of Law Houston

Date Written: April 5, 2017


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 most recent twelve months—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 an opportunity to mock our elected representatives; again, sometimes at least one of us goes nuts and writes up the most trivial of legislative changes. The outline focuses primarily on topics of broad general interest (to 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.

Keywords: Income taxation, Corporate taxation, Partnership taxation, Tax shelters, Tax procedure, Inividual income taxation

Suggested Citation

McMahon, Jr., Martin J. and McGovern, Bruce A., Recent Developments in Federal Income Taxation: The Year 2016 (April 5, 2017). Florida Tax Review, Vol. 20, No. 3, 2017; University of Florida Levin College of Law Research Paper No. 17-15. Available at SSRN:

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)

Bruce A. McGovern

South Texas College of Law Houston ( email )

1303 San Jacinto Street
Houston, TX 77002
United States
(713) 646-2920 (Phone)
(713) 646-1766 (Fax)

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