Practicing lawyers, regardless of their area of expertise, need a basic understanding of federal income tax because this tax affects so much of modern American life. This course covers the fundamentals of federal income taxation of individuals. It provides a basic understanding of the structure and vocabulary of the tax statute and of the relationship of the statute to regulations, other administrative pronouncements, and case law. The course introduces students to key concepts and issues in individual federal taxation such as the taxable unit, rate structure, the definition of income, capital recovery, the difference between a deduction and a credit, and the treatment of capital gains. Through the use of the problem method, the course develops the critical skills necessary to read and analyze any statutory language. (3 Credits)