Recent Developments in Federal Income Taxation: The Year 2023

Publication Title

Tax Lawyer

Authors

Bruce A. McGovern, South Texas College of LawFollow
Cassady V. Brewer, Georgia State University College of LawFollow

Document Type

Article

Publication Date

2024

Abstract

This Article summarizes and provides context to understand the most important developments in federal income taxation for 2023. The items discussed primarily consist of the following: (i) significant amendments to the Internal Revenue Code; (ii) important judicial decisions; and (iii) noteworthy administrative rulings and regulations promulgated by the Treasury Department and the Service. This Article primarily focuses on subjects of broad general interest - tax accounting rules, determination of gross income, allowable deductions, treatment of capital gains and losses, corporate and partnership taxation, exempt organizations, and procedure and penalties. This Article provides only limited discussion of federal estate and gift taxation and the income taxation of trusts and estates and generally does not address items relating to qualified pension and profit-sharing plans, international taxation, or specialized industries such as banking, insurance, and financial services.

Recommended Citation

Bruce A. McGovern & Cassady V. Brewer, Recent Developments in Federal Income Taxation: The Year 2023, 77 Tax Law. 805 (2024).

Institutional Repository Citation

Bruce A. McGovern & Cassady V. Brewer, Recent Developments in Federal Income Taxation: The Year 2023, Faculty Publications By Year 3677 (2024)
https://readingroom.law.gsu.edu/faculty_pub/3677

Volume

77

First Page

805