Federal Income Taxation in Focus - 3rd Edition - Bobby L. Dexter

Federal Income Taxation in Focus 3rd Edition Bobby L. Dexter ISBN 9798894105628

The third edition of Federal Income Taxation in Focus continues to equip students for advanced courses in federal tax law and the challenges of sophisticated tax practice. Bobby L. Dexter’s engaging narrative, combined with abundant examples and illustrations, makes tax law approachable and interesting. Concepts, rules, and technical nuances are presented within a clear, logical framework, while hands-on features like Real Life Applications, Applying the Concepts, and Federal Income Taxation in Practice give students practical opportunities to develop critical skills such as analysis, problem-solving, drafting legal documents, and preparing tax filings.

New to the Third Edition:

• Major updates reflecting key legislative changes under the 2025 Tax Act (Public Law 119-21), including:

  • Tax rate relief

  • Temporary enhancement of the SALT cap

  • Temporary personal exemption for senior citizens

  • Expanded Child & Dependent Care Tax Credit and Child Tax Credit

  • Temporary deductions for Qualified Passenger Vehicle Loan Interest, Qualified Tip Income, and Qualified Overtime Compensation

  • Expensing of domestic research and experimentation costs

  • Modified treatment of wagering losses and charitable contributions

  • Targeted limitation on the overall benefit of itemized deductions

• Highlights from significant judicial developments in the U.S. Supreme Court, including:

  • Loper Bright Enterprises v. Raimondo (Chevron deference)

  • Moore v. United States (realization and allocated income)

• New cases and IRS pronouncements addressing contemporary topics, including:

  • Modern forms of illegal income and potential innocent spouse relief

  • Medical expense deductions for opioid, nicotine, and obesity treatments

  • Virtual currency transactions and annual accounting requirements

  • Qualified intermediaries in deferred like-kind exchanges

  • Deductibility of cyberattack ransoms and the use of AI in R&D

• Examples using the 2023 Form 1040 of President Joe Biden, First Lady Dr. Jill Biden, Vice President Kamala Harris, and Second Gentleman Douglas Emhoff

• Engaging visuals to spark policy discussions and enrich student understanding

Professors and Students Will Benefit From:

• Clear, accessible writing that makes complex tax rules understandable for first-time learners

• Chapter-opening text boxes highlighting Key Statutory and Regulatory Provisions, focusing students on relevant Code sections and Treasury Regulations

• Abundant visual content to contextualize the subject, maintain engagement, and aid mastery of Code-based rules

• A modern approach integrating recent authorities, policy developments, and real-world applications

• Carefully selected cases, problems, and IRS pronouncements that are relevant and meaningful for students, legal professionals, and taxpayers

Federal Income Taxation in Focus 3rd Edition Bobby L. Dexter ISBN 9798894105628, 979-8894105628 & 9798894105635

Author
Bobby L. Dexter