Federal Tax

Income Tax Liability: Concepts and Calculation (Portfolio 507)

  • The Portfolio, Income Tax Liability: Concepts and Calculation, discusses and analyzes the concepts and calculations related to income tax liability.


Bloomberg Tax Portfolio, Income Tax Liability: Concepts and Calculation, No. 507, serves three primary functions for the practitioner. First, the Portfolio explores the scope and fundamental concepts of tax liability. Topics presented include the regular, alternative minimum, and other taxes for individuals, corporations, estates and trusts; filing status for individuals; excise-type income taxes; and the determination of taxes due and refunds.
Second, the Portfolio explains the rules of the numerous specific provisions subsumed in the broad categories referred to above (for example, the rate schedules, maximum capital gains rates, and changes in tax rates).
Third, the practitioner can use the Portfolio as a tool for identifying Bloomberg Tax Portfolios that provide an in-depth treatment of specific topics discussed herein. Cross references to applicable portfolios appear in each section of this portfolio. For additional relevant Bloomberg Tax Portfolios, check the Portfolio Classification Guides.

Table of Contents

I. Introduction
II. Individual Income Tax Liability
III. Corporate Income Tax Liability
IV. Estates and Trusts
V. Rate Changes
VI. Nontaxable Organizations
VII. Excise-Type Income Taxes
VIII. The Determination of Taxes Due and Refunds

James Maule
Professor of Law, Emeritus
Villanova University School of Law
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