Freeland, Lathrope, Lind, and Stephens's Fundamentals of Federal Income Taxation, 19th

by James J. Freeland, Daniel Lathrope, Stephen Lind

Adopted at over 100 schools, this casebook provides detailed information on federal income taxation, with specific assignments to the Internal Revenue Code, selected cases, and administrative rulings from the Internal Revenue Service. The revised and updated Nineteenth Edition retains the book’s long standing format and much of its prior materials, but it is updated to reflect recent events including all legislative developments, especially the 2017 Tax Cuts and Jobs Act (Pub. L. 115-97).

The new edition contains coverage of the provisions of the Tax Cuts and Jobs Act, including the following significant (1) rate reductions for individuals, including a significant rate reduction for business income earned in pass-through entities, (2) changes liberalizing the cost recovery system (including §§ 179 and 168(k)), (3) restrictions on the home mortgage interest deduction and deduction for state and local taxes, (4) the elimination of the deduction for most entertainment expenditures, (5) the non-deductibility of miscellaneous itemized deductions and the effect of that change on other areas of deductions, (6) a new limitation on the deductibility of business interest, (7) a new limitation on excess business losses of noncorporate taxpayers, (8) repeal of the rules for alimony and separate maintenance payments after 2018, (9) the significant increase in the standard deduction and elimination of the exemption deduction, (10) changes in the accrual method of accounting, (11) the increase and expansion of the child tax credit, (12) a new 60% limitation applicable to cash gifts to public charities, (13) new rules limiting like-kind exchanges to real property exchanges, (14) “simplification” of the kiddie tax, and (15) increased exemption amounts under the alternative minimum tax which make the tax applicable to fewer individuals.

1115 pages, Hardcover

Published August 3, 2018

About the author

Freeland was a professor for almost 40 years and co-founder of the Graduate Tax Program at the University of Florida Levin College of Law, one of the top-ranked tax law programs in the country.

Freeland earned his B.A. from Duke University in 1950 before attending UF Law, where he received his L.L.B and graduated second in his class. He also was a Graduate Fellow of Yale Law School. Upon graduation he headed to Hugh F. Culverhouse's Miami law firm, where he specialized in federal tax matters and eventually went on to manage the firm. Freeland returned to UF Law and became a member of the faculty in 1957. Except for a brief stint as a law professor at New York University's Graduate Tax Program, he served a law professor at UF until he retired in 1995

While at the University of Florida, Freeland coauthored many books and articles, such as the leading treatises Fundamentals of Federal Income Taxation, the most widely adopted tax law casebook in the United States, and Federal Income Taxation of Estates and Beneficiaries.

He received numerous honors, such as the Florida Blue Key Distinguished Faculty Award, the Distinguished Service Professor Award, the John Marshall Bar Association Outstanding Professor Award and the Florida Law Review Outstanding Professor Award. Freeland was also the first recipient of the Outstanding Tax Attorney in the State of Florida award, which is annually presented by the Tax Section of the Florida Bar, and was named an honorary member of Florida Blue Key.