Pearson's Federal Taxation 2026 Corporations, Partnerships, Estates, & Trusts, 39th edition

Published by Pearson (June 7, 2025) © 2026
  • Luke E. Richardson
  • Mitchell Franklin

Title overview

For undergraduate courses in taxation principles.

Practical applications of tax law and principles

Pearson’s Federal Taxation 2026 Corporations, Partnerships, Estates & Trusts, of the hallmark Richardson and Franklin series, is a long-trusted resource blending the technicalities of tax law with maximum readability and relevance. A companion to the Individuals volume, it provides extensive coverage of entities, as well as Financial Statement Implications sections and comprehensive tax return problems across entities.

The 39th Edition is a complete refresh built around current tax rulings and regulations. Real-world examples and extensive hands-on practice prepare students to apply tax law to real accounting and finance tasks.

Hallmark features of this title

Applications of tax law

  • UPDATED: Real-world examples relate the material to events, cases and statistics from tax and business environments, including some from the IRS’s Statistics of Income.
  • UPDATED: Comprehensive tax return problems throughout the text incorporate tax law across entities, including corporations, partnerships and S corporations.

Analytical deep dives

  • Book-to-Tax Accounting Comparison analyzes tax discussions against accounting practices.
  • Ethical Points and Tax Strategy Tips dig deeper into material from the adjoining text.

Critical-thinking opportunities

  • What Would You Do in This Situation? challenges students to respond to real controversies.
  • Stop & Think “speed bumps” prompt learners to pause and apply what they’ve learned.

New and updated features of this title

A complete refresh

  • UPDATED: Content and problem materials across chapters were updated to reflect tax legislation and subsequent administrative guidance or judicial decisions announced in 2024 and early 2025, as of the time of publication.
  • UPDATED: Tax rate schedules and other figures are now consistent with legal changes and inflation adjustments for 2024.
  • UPDATED: Tax return problems were revised to feature 2024 tax forms available at the time of publication.
  • UPDATED: Wording in several chapters was updated for a more accurate and concise presentation of the material.

Key features

Features of MyLab Accounting for the 39th Edition

  • Homework and practice exercises in MyLab are correlated to exercises in the text, reflecting each author’s approach. The exercises regenerate algorithmically to give students unlimited opportunity for practice and mastery.
  • With LMS Integration, you can link your MyLab course from Blackboard Learn™, Brightspace® by D2L®, Canvas™ or Moodle®.
  • Pearson+ eTextbook lets students choose how they learn best. Part of your MyLab course, Pearson+ merges easy-to-use eTextbooks with study tools.
  • The Study Plan gives learners personalized recommendations, practice opportunities and learning aids to help them stay on track.

Table of contents

  1. Tax Research
  2. Corporate Formations and Capital Structure
  3. The Corporate Income Tax
  4. Corporate Nonliquidating Distributions
  5. Other Corporate Tax Levies
  6. Corporate Liquidating Distributions
  7. Corporate Acquisitions and Reorganizations
  8. Consolidated Tax Returns
  9. Partnership Formation and Operation
  10. Special Partnership Issues
  11. S Corporations
  12. The Gift Tax
  13. The Estate Tax
  14. Income Taxation of Trusts and Estates
  15. Administrative Procedures

QUICK REFERENCE

  • 2025 Tax Rate Schedules and Other Key Numbers

APPENDICES

  1. Tax Research Working Paper File
  2. Tax Forms
  3. MACRS Tables
  4. Glossary
  5. AICPA Statements on Standards for Tax Services Nos. 1-4
  6. Comparison of Tax Attributes for C Corporations, Partnerships, and S Corporations
  7. Actuarial Tables
  8. Index of Code Sections
  9. Index of Treasury Regulations
  10. Index of Government Promulgations
  11. Index of Court Cases
  12. Subject Index

Author bios

About our authors

Luke E. Richardson is an Associate Professor of Instruction and Kerkering Barberio Fellow in the Lynn Pippenger School of Accountancy at the University of South Florida. He received undergraduate and graduate degrees in accounting from the University of South Florida and a JD from the Stetson University College of Law. Professor Richardson, a CPA and lawyer in Florida, worked with Deloitte prior to his current role. He teaches several courses in taxation of individuals and business entities. Outside the classroom, he serves as a faculty advisor for the Delta Gamma chapter of Beta Alpha Psi and continues in his professional practice. Professor Richardson has published articles in practitioner journals such as Tax Notes, The Tax Adviser and the Journal of Accountancy.

Mitchell Franklin PhD, CPA, is The Distinguished Jack Collins ‘60 Chair in Accounting and Professor of Accounting at Le Moyne College, Madden College of Business and Economics, in Syracuse, New York. His research interests explore the impact of tax policies on individual and business decisions, as well as pedagogical issues in both financial accounting and taxation. Dr. Franklin has published more than 50 articles in journals that include Issues in Accounting Education, Advances in Accounting Education, Journal of Taxation, Tax Notes and The Tax Adviser. Dr. Franklin presently serves on the editorial board of Issues in Accounting Education and is an associate editor for The Accounting Educators’ Journal. Professionally, Dr. Franklin previously served as President of the American Accounting Association Northeast Region and served as Chair of the 2023 American Taxation Association Conference for Teaching and Learning. Prior to joining Le Moyne College, Dr. Franklin served on the accounting faculty at Syracuse University, Whitman School of Management, for 15 years.

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