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New BNA Portfolio Explores Gross Income Concepts

NEWS RELEASE

Contacts:
Mark Carrington
(202) 530-1728

Washington, DC (May 25, 2007) – BNA®, publisher of the authoritative and universally recognized Tax Management Portfolios, has released the latest addition to the U.S. Income series.  Portfolio 501-3rd, Gross Income: Overview and Conceptual Aspects, serves three primary functions for the practitioner.

First, the Portfolio provides a conceptual framework for handling issues relating to the gross income concept. This latest edition explores the nature, scope, significance, definition and fundamental concepts of gross income. Topics discussed include imputed income, tax-deferred income, recapture income, the timing of income, the significance of the form of receipt, pass-through rules, foreign issues, compensation income, trade or business income, and investment income, as well as personal transactions and miscellaneous transactions.

Second, the Portfolio explains the rules of numerous specific provisions included in the broad categories referred to above (for example, computation of gross income under the installment method).

Third, the practitioner can use this overview Portfolio as a tool for identifying Tax Management portfolios that provide an in-depth treatment of specific topics it discusses. Cross references to applicable Portfolios appear in each section of 501-3rd Gross Income.

This Portfolio may be cited as Maule, 501-3rd T.M., Gross Income: Overview and Conceptual Aspects.

James Edward Maule is currently a professor at the Villanova University School of Law and a member of the faculty of the Villanova University Graduate Tax Program. Before joining the Villanova faculty in 1983, he was an attorney in the Legislation and Regulations Division of the Office of the Chief Counsel to the Internal Revenue Service, served as attorney-adviser to the Honorable Herbert L. Chabot of the United States Tax Court, and taught at The Dickinson School of Law.  Prof. Maule is author of computer-assisted legal instruction programs, owner/publisher of the JEMBook Publishing Company, and owner of TaxJem Inc. He has written extensively for BNA, contributing portfolios, tax practice chapters as well as BNA journal articles. Professor Maule is actively involved in the American Bar Association, Section of Taxation. He earned degrees from the University of Pennsylvania (B.S.), Villanova University (J.D.) and George Washington University (LL.M.).

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About BNA®
BNA is a leading publisher of print and electronic news, analysis, and reference products, including the recently launched Accounting Policy & Practice Series.  BNA publications intensely cover legal and regulatory developments for professionals in business and government. BNA is the oldest wholly employee-owned company in the United States, and produces more than 350 news and information services — including Daily Labor Report and Daily Tax Report — widely respected for comprehensive and objective reporting and analysis.

For more information, contact Mark Carrington, BNA Tax & Accounting, at 202.530.1728.