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.
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
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
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
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
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