Combining the bestselling individual tax text with the bestselling corporations text, the 2008 EDITION of WEST FEDERAL TAXATION: COMPREHENSIVE VOLUME is the most effective book for mastering the ever-changing Tax Code. This streamlined version of the first two books in the market-leading WFT Series offers a thorough and balanced treatment of relevant Tax Code and regulations as applied to individuals and corporations. It covers all major developments in federal taxation while highlighting materials of critical interest to the serious tax practitioner. Offering an accessible, comprehensive, and authoritative presentation, WFT is packed with relevant, real-world examples and practical applications. It continues a longstanding emphasis on the importance of careful tax planning and strong coverage of how taxation is affected by international concerns. WFT also offers readers opportunities to sharpen critical-thinking and writing skills as well as build upon their knowledge as they progress through the text. In addition, Internet exercises tied directly to chapter research cases give readers hands-on experience using online resources to solve tax problems. More than just a textbook, WFT delivers a revolutionary experience. Built around the areas identified as the most important, this total integrated solution delivers ultimate flexibility. It also adheres to the recommendations of the Accounting Education Change Commission (AECC) and the American Institute of Certified Public Accountants (AICPA).