Show students how to master federal taxation today with the balanced, conceptual approach in Murphy/Higgins' CONCEPTS IN FEDERAL TAXATION 2020. This unique text presents taxation as a small number of unifying concepts that students learn and apply to tax rules and everyday economics. Students study the latest tax laws and most recent code changes in manageable segments with Concept Checks that are ideal for CPA Exam review. This edition presents tax concepts using the Internal Revenue Code to prepare students for CPA Exam tax simulations. Frequent examples relate concepts to current business situations. This edition also provides more practice exercises than any other book of its kind with additional tax planning problems in the Test Bank. CNOWv2 online optimizes learning, while Intuit® ProConnect software and RIA Checkpoint® Student Edition from Thomson Reuters provide experience using professional taxation tools.