Prentice Hall's Federal Taxation 2001

Prentice Hall's Federal Taxation 2001 : Corporations, Partnerships, Estates, and Trusts

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Written by nationally recognized tax educators, this acclaimed three-volume series provides a hands-on, definitive guide to federal income taxation concepts and applications. Ken Anderson from the University of Tennessee at Knoxville, has joined the team as a series editor, a web-site offering great resources and huge $$avings for on-line student supplements is available with the books, and the accounting hotline offers immediate service for faculty. (PHFT: Comp & Ind. - See POPE)show more

Product details

  • Hardback | 902 pages
  • 220.98 x 279.4 x 33.02mm | 1,610.24g
  • Pearson Education Limited
  • Prentice-Hall
  • Harlow, United Kingdom
  • English
  • 0130260479
  • 9780130260475

Table of contents

Prentice Halls Federal Taxation 2001: Corporations, Partnerships, Estates, and Trusts (NOTE: All chapters include sections on Tax Planning Considerations and Compliance and Procedural Considerations, except 1 and 16. All chapters also include Problem Materials.) 1. Tax Research. Overview of Tax Research. Steps in the Tax Research Process. Importance of the Facts to the Tax Results. The Sources of Tax Law. Tax Services. Citators. Computers as a Research Tool. Statements on Responsibilities in Tax Practice. Sample Work Papers and Client Letter. 2. Corporate Formations and Capital Structure. Organization Forms Available. Definition of a Corporation. Legal Requirements for Forming a Corporation. Tax Considerations in Forming a Corporation. Section 351: Deferring Gain or Loss Upon Incorporation. Choice of Capital Structure. Worthlessness of Stock or Debt Obligations. 3. The Corporate Income Tax. Corporate Elections. General Formula for Determining the Corporate Tax Liability. Computing a Corporations Taxable Income. Computing a Corporations Income Tax Liability. Controlled Groups of Corporations. Compensation Planning for Shareholder-Employees. 4. Corporate Nonliquidating Distributions. Distributions in General. Earnings and Profits (E&P). Property Distributions. Stock Dividends and Stock Rights. Stock Redemptions. Preferred Stock Bailouts. Stock Redemptions by Related Corporations. 5. Other Corporate Tax Levies. The Corporate Alternative Minimum Tax. Superfund Environmental Tax. Personal Holding Company Tax. Accumulated Earnings Tax. Unrelated Business Income Tax. 6. Corporate Liquidating Distributions. Tax Consequences of Corporate Liquidations. Effects of Liquidating on the Shareholders. Effects of Liquidating on the Liquidating Corporation. Corporate Liquidations as Part of Taxable Asset Acquisitions. 7. Corporate Acquisitions and Reorganizations. Characteristics of Taxable and Tax-Free Transactions. Types of Tax-Free Reorganizations. Tax Consequences of Reorganizations. Acquisitive Reorganizations. Divisive Reorganizations. Other Reorganization Transactions. Judicial Restrictions on the Use of Corporate Reorganizations. Tax Attributes. 8. Consolidated Tax Returns. Source of the Consolidated Tax Return Rules. Definition of an Affiliated Group. Should a Consolidated Return be Filed? Consolidated Taxable Income. Intercompany Transactions. Dividends Received by Group Members. Consolidated Charitable Contributions Deduction. Net Operating Losses (NOLs). Consolidated Capital Gains and Losses. Computation of the Affiliated Groups Tax Liability. Consolidated Tax Credits, Stock Basis Adjustments. 9. Partnership Formation and Operation. Definition of a Partnership. Overview of Partnership Taxation. Tax Implications of Formation of a Partnership. Partnership Elections. Partnership Reporting of Income. Partner Reporting of Income. Basis for Partnership Interest. Special Loss Limitations. Transactions Between a Partner and the Partnership. Family Partnerships. 10. Special Partnership Issues. Nonliquidating Distributions. Nonliquidating Distributions with Sec. 751. Terminating an Interest in a Partnership. Optional Basis Adjustments. Special Forms of Partnerships. 11. S Corporations. Should an S Corporation Election be Made? S Corporation Requirements. Election of S Corporation Status. S Corporation Operations. Taxation of the Shareholder. Basis Adjustments. S Corporation Distributions. Other Rules. 12. The Gift Tax. Concept of Transfer Taxes. The Unified Transfer Tax System. Gift Tax Formula. Transfers Subject to the Gift Tax. Exclusions. Gift Tax Deductions. The Gift-Splitting Election. Computation of the Gift Tax Liability. Comprehensive Illustration. Basis Considerations for a Lifetime Giving Plan. Below Market Loans: Gift and Income Tax Consequences. 13. The Estate Tax. Estate Tax Formula. The Gross Estate-Valuation. The Gross Estate-Inclusions. Deductions. Computation of Tax Liability. Comprehensive Illustration. Liquidity Concerns. Generation-Skipping Transfer Tax. 14. Income Taxation of Trusts and Estates. Basic Concepts. Principles of Fiduciary Accounting. Formula for Taxable Income and Tax Liability. Distributable Net Income. Determining a Simple Trusts Taxable Income. Comprehensive Illustration-Determining a Simple Trusts Taxable Income. Determining Taxable Income for Complex Trusts and Estates. Comprehensive Illustration-Determining a Complex Trusts Taxable Income. Accumulation Distribution Rules. Section 644 Tax. Income in Respect of a Decedent. Grantor Trust Provisions. 15. Administrative Procedures. Role of the Internal Revenue Service. Audits of Tax Returns. Requests for Rulings. Due Dates. Estimated Taxes. Other More Severe Penalties. Statute of Limitations. Liability for Tax. Tax Practice Issues. 16. U.S. Taxation of Foreign-Related Transactions. Jurisdiction to Tax. Taxation of U.S. Citizens and Resident Aliens. Taxation of Nonresident Aliens. Taxation of U.S. Persons Doing Business Abroad.show more

About Kenneth E Anderson

ANNA C. FOWLER is the John Arch White Professor in the Department of Accounting at the University of Texas at Austin. She received her B.S. in accounting from the University of Alabama and her M.B.A. and Ph.D. from the University of Texas at Austin. Active in the American Taxation Association, she has served on the editorial board of its journal and has held many positions, including president, within the organization. She is also active with the American Institute of CPAs and currently serves on the Executive committee of its Tax Division. Currently, Fowler is a member of the Board of Trustees of the Educational Foundation of the Texas Society of CPAs. She has published a number of articles, most of which have dealt with estate planning or real estate transaction issues. She also is a frequent speaker before professional organizations on estate planning topics.RICHARD J. JOSEPH is a Lecturer in Taxation at The University of Texas at Austin Graduate School of Business. A graduate magna cum laude of Harvard College (B.A.), Oxford University (M.Litt.), and The University of Texas School of Law (J.D.), he has taught federal income taxation, tax research methodology, tax issues in business management, and the fundamentals of financial and managerial accounting. A former investment banker at Lehman Brothers, securities trader at Bear Stearns, and mergers lawyer for the Bass Group, Mr. Joseph has published articles on tax equity and the consumption and flat taxes. His forthcoming book, The Origins of the American Income Tax, traces the historical development of the ideas that went into the making of the modern income tax.SANDRA S. KRAMER is a faculty member in the Fisher School of Accounting at the University of Florida. She is a recipient of a Teaching Improvement Program award made by the University of Florida in 1994. She holds a Ph.D. in Accounting from the University of Texas at Austin, an M.B.A. degree from the University of Michigan, and an A.B. degree from the University of Georgia. She is a former vice-president of the American Taxation Association, a past editor of The Journal of the American Taxation Association, and the current President of the American Taxation Association. Kramer has taught for a number of national, regional, and local accounting firms and is a frequent speaker at academic and professional tax conferences. She has published more than 30 articles and books. Her articles have appeared in The Accounting Review, The Journal of Accounting Research, The Journal of the American Taxation Association, The Tax Adviser, and other academic and professional journals.SUSAN L NORDHAUSER is a professor at the University of Texas at San Antonio. She received her B.A. from Cornell University, her M.S. from Purdue University, and her Ph.D. from the University of Texas at Austin. She has published many articles on taxation in journals including The Journal of the American Taxation Association, The Accounting Review, The Tax Adviser, and The National Tax Journal. Nordhauser is the recipient of the 1992 Ernst & Young Tax Literature Award. She has served on the editorial board of several academic tax journals.MICHAEL S. SCHADEWALD is an Associate Professor of Accounting and Director of the Deloitte & Touche Center for Multistate Taxation at the University of Wisconsin-Milwaukee. He holds a Ph.D. from the University of Minnesota, an M.S. from the University of Wisconsin-Milwaukee, and a B.B.A. from the University of Wisconsin-Whitewater. He has co-authored a book on international taxation and has published over 25 articles in a number of accounting and tax journals, including The Journal of the American Taxation Association, The Accounting Review, Contemporary Accounting Research, and The Journal of Taxation. He serves on the editorial boards of The Journal of the Americshow more