ACCB 230 Income Tax Procedures

This is an introductory course in the theory and law of federal income tax. The students learn to prepare personal and small business returns along with the accumulation of data to support those returns.

Credits

4 Credits

ACCB 230Income Tax Procedures

Please note: This is not a course syllabus. A course syllabus is unique to a particular section of a course by instructor. This curriculum guide provides general information about a course.

I. General Information

Department

Business

II. Course Specification

Course Type

Program Requirement

Credit Hours Narrative

4 Credits

Semester Contact Hours Lecture

64

Semester Contact Hours Lab

0

Semester Contact Hours Clinical

0

Grading Method

Letter grade

Repeatable

N

III. Catalog Course Description

This is an introductory course in the theory and law of federal income tax. The students learn to prepare personal and small business returns along with the accumulation of data to support those returns.

IV. Student Learning Outcomes

Upon completion of this course, a student will be able to:

  • Accurately prepare an individual tax return
  • Accurately prepare individual tax return using software
  • Articulate understanding of tax law
  • Be able to articulate the information on a tax return to someone with limited tax knowledge
  • Be able to identify missing information needed to accurately prepare a tax return
  • Demonstrate ethical decision making 
  • Demonstrate research skills
  •  Effectively give feedback to peers

V. Topical Outline (Course Content)

The individual income tax return Gross Income and Exclusion Business Income and Expenses, Part I Business Income and Expenses, Part II Itemized deductions and other incentives Credits and Special Taxes Accounting Periods and Methods of Deprecation Capital Gains and Losses Withholdings, Estimated payments, and payroll taxes Partnership Taxation The Corporate Income Tax

VI. Delivery Methodologies

Required Assignments

Chapter homework associated with above-mentioned chapters.

Required Exams

One Manual tax return per chapter Once Computer generated tax return per chapter Comprehensive final exam

Required Text

Income Tax Fundamentals 2016 Whittenburg/Atlus-Buller/GillProSeries, Lacerte, or other professional tax software

Required Materials

Required Activities

Specific Course Activity Assignment or Assessment Requirements

Chapter homework associated with above-mentioned chapters. One Manual tax return per chapter Once Computer generated tax return per chapter Comprehensive final exam 1. 2.