Summer Intersession or Fall 2013 Initial Class Assignment for:

Federal Income Taxation § B

Instructor: Siegel

First class date: August 19, 2013

Posting date: Aug 12, 2013 @ 12:10:02

Instructions:

Federal Income Taxation
Professor Siegel
Fall 2013

First Week’s Assignment

I am looking forward to a productive semester as we begin our journey together.  
There is a two part assignment prior to class beginning on August 19, 2013.

You should bring your casebook, tax code and regulations, and class supplement 
(purchased from the bookstore) to all classes.  Failure to have these materials means you 
are not prepared.  In the class supplement you will find information regarding class 
attendance and preparation.  This information should be read prior to our first class 
meeting.  You will have five permitted absences with a drop resulting on the sixth absence.  
You will forfeit a review of your final exam should you exceed three absences.  Bring your 
completed 3”x5” index card to our first class meeting.

Note:  Seating will be alphabetical and attendance will be taken from the seating chart.  
Please be in your assigned seat at the start time of class to be counted as present.  As use 
of electronic devices (computers, cell phones etc.) is not allowed, do not set up your 
computer or any other device in the classroom.


I.  Pre-Class Assignment:  Please read text pages 3 – 35 and review the "Taxing Formula" 
and “Income Tax Appeal Procedure” contained in the class supplement following the 
syllabus and listen to the narrated powerpoint presentation I prepared for you (the 
presentation was originally prepared during the fall 2012 semester and is being used again 
this semester).  The presentation can be found at stream.stcl.edu under my last name.  The 
following link should work but if it does not contact I.T. at ext. 1730:

http://stream.stcl.edu/watch.php?vid=979a8bcf1

   Consider the following questions discussed in the narration:

1.  What is the difference between a tax deduction and a tax credit?  

2.  Sally, a single taxpayer, has taxable income of $100,000.  What income tax bracket is 
she in?  How many tax brackets are there anyway?  Determine her 2013 income tax 
liability.  See the 2013 Tax Rates in the tables included in your class supplement.  These 
rates reflect the most recent tax legislation.
 
3.  What is a 30 day letter?  What is a statutory notice of deficiency (90 day letter)?  See 
Income Tax Appeal Procedure in your class supplement.

4.  If you were unable to resolve a tax matter with the IRS, what trial forums are available to 
you?  If you were unsuccessful at trial, what steps would you next consider?

II.  In addition to your pre-class audio assignment described above, for Monday, August 
19, 2013, read pages 39-49 in the assigned text and work problems 1-5 on page 54.  
Throughout the semester, you may wish to look at the problems first to give you context 
for the reading assignment.