Basic Federal Income Taxation (690-1)
Instructors
Sarah Lawsky
312/503-1855
sarah.lawsky@law.northwestern.edu
Meeting Info
Online: Thurs 8:50AM - 10:15AM
Overview of class
This course serves as an introduction to U.S. federal income tax law. You will not learn how to fill out your tax return or about accounting. Tax isn't primarily about numbers; rather, it is about the government's role in the economy and the distribution of resources.
Registration Requirements
By the end of this course, you should have a better understanding of: (1) The basic structure of and concepts underlying the U.S. federal income tax system (income, deductions, exclusions, credits, etc.). (2) How to read a statute and figure out what the law is. (3) The different sources of tax law, including not only the Code and regulations, but also administrative guidance, and the relative weight that each of these sources is due. (4) The fundamentals of tax policy.
Teaching Method
Lectures are prerecorded; in class we work problems together.
Class Materials (Required)
"The most important reading you will do in this class is of the tax code and regulations. A PDF of the Code and regulations we will read in this class will be on Canvas. You can order a bound hard copy of that PDF for cost; the link will be on Canvas. You may prefer a published hard copy such as CCH, Federal Income Tax, Code & Regulations - Selected Sections (2023-2024 edition), or any other fairly current edition of selected sections of the Federal Income Tax Code and Regulations.
There are also readings from Katherine Pratt, Thomas D. Griffith, and Joseph Bankman, Federal Income Tax: Examples and Explanations (8th Edition 2019, ISBN 978-1-4548-8127-8). This is available as an e-book for free; the link will be on Canvas. You must have the current edition, because the law has changed significantly.
Additional readings and problems for the topics are in packets that will be posted as PDFs on Canvas and linked under the relevant topic. You can order a bound hard copy of the full set of packets for cost; the link will be posted on Canvas (ordering this is not required, though the readings and problems in the packets are required).
Class Materials (Suggested)
Marvin Chirelstein & Lawrence Zelenak, Federal Income Taxation (15th ed. 2023, ISBN 9781647083144) provides a high-level view of some concepts this class covers. This is available as an e-book for free; the link will be on Canvas.
Class Notes
First, this course is a ""flipped class."" Here's how it works each week: (1) Read the assigned material. (2) Prepare the assigned problems. (3) Watch the pre-recorded lectures for each week. There are questions embedded in the lecture that you will answer in order to move forward in the video. (4) Ask questions or engage in discussion on the discussion board. (5) Come to class (on Zoom) and work on problems in small groups. The TAs and I will go from group to group listening and answering questions. Periodically we will come back together and one of the small groups will present the answer to the problem to the class. (6) Keep reviewing the material, including coming to office hours on Friday morning; office hours are like an optional class session, where we can do more problems and I can answer more questions.
Second, while this class is online, THE EXAM IS IN PERSON AND SCHEDULED, AT THE TIME AND DAY SCHEDULED BY THE REGISTRAR. THE EXAM MUST BE TAKEN AT THE LAW SCHOOL ON THAT DAY AT THAT TIME.
Class Attributes
Open to First Year Students
Business/Corporate transactions an element
Family Law Practice Area in course
Taxation Practice Area present in course
Synchronous:Class meets remotely at scheduled time
Enrollment Requirements
Enrollment Requirements: MSL Students are not eligible to enroll