Federal Income Taxation of Corporations and Partnerships - 7th Edition - Abrams

Federal Income Taxation of Corporations and Partnerships 7th Edition Abrams ISBN 9781543857795

Federal Income Taxation of Corporations and Partnerships Seventh Edition offers a streamlined, practice-oriented guide to understanding the tax treatment of business entities. Authored by Howard E. Abrams, Don A. Leatherman, and new co-author Thomas J. Brennan, this latest edition retains the hallmark clarity and problem-based pedagogy that has made the book a staple in tax classrooms—while significantly expanding coverage of current law and real-world application.

Built for modern classrooms, this edition moves beyond rote learning with deeply integrated examples, thoughtfully constructed problems, and strategic use of diagrams that demystify complex provisions. Whether students are working through the fundamentals of Subchapter C or navigating the intricacies of Subchapter K, the book emphasizes comprehension over memorization, linking statutory rules to commercial realities.

What’s New in the Seventh Edition:

• Expanded and clarified treatment of §351 contributions involving boot and assumed liabilities, with practical diagrams that simplify multi-faceted rules.

• Coverage of the newly enacted corporate alternative minimum tax, with plain-language explanations of its mechanics and policy rationale.

• Modernized approach to §332 subsidiary liquidations—replacing long case reprints with clear summaries, including Associated Wholesale Grocers.

• Thorough overhaul of §338 elections and taxable acquisitions, featuring side-by-side examples that illustrate the effects of alternative elections.

• New case and note materials on multi-step reorganizations, including J.E. Seagram Corp. and Rev. Rul. 2008-25, now presented through concise analysis rather than lengthy judicial excerpts.

• Updated guidance on stock repurchase excise taxes, an increasingly important issue in corporate planning.

• Broader treatment of consolidated groups, making this complex topic more accessible.

• Refined Subchapter K chapters, removing outdated material while adding timely content—such as partnership basis shifting transactions and new regulatory responses.

• Timely notes on private equity strategies, including guaranteed payment waivers and §707(a)(1) implications.

• Numerous new and revised problems across the board, reflecting current law and emerging planning trends.

Why This Casebook Stands Out:

• Balanced coverage of C corporations, S corporations, and partnerships—allowing professors to tailor course structure to two-, three-, or four-credit formats.

• Practice-driven examples and illustrative diagrams that show how tax rules apply to real-world transactions.

• Engaging problems that challenge students to apply doctrine in context, promoting deeper understanding and retention.

• Flexible modular structure, suitable for focused entity-specific courses or broad business tax surveys.

Whether you’re teaching future tax attorneys or corporate generalists, this casebook equips students with the doctrinal foundation and analytical tools they need to navigate the tax dimensions of modern business transactions.

Federal Income Taxation of Corporations and Partnerships Howard Abrams 7th Edition ISBN 978-1543857795