ACC 221 - Principles of Tax 2
Credits: 3
3 Lecture Hours
Prerequisites: ACC 211
Description
This course is a continuation of ACC 211 , Principles of Tax 1. The Internal Revenue Code, regulations, rulings and other tax references are used in problem solving. Topics covered include tax preparation and reporting for partnerships, S-corps, C-corps and fiduciaries. Also included is an overview of federal estate and gift taxation.
Learning Outcomes
Upon successful completion of the course, the student will:
- Apply all relevant tax laws and regulations necessary to prepare non-individual entity tax returns.
- Complete an accurate appraisal of applicable tax law to form a sound tax opinion using the cross-referencing symbology of the IRS Code.
- Recommend a tax stance by evaluating and demonstrating an understanding of the Internal Revenue Tax Code and regulations.
- Apply all applicable tax laws required to successfully defend positions taken in the preparation of corporate, federal gift and U.S. estate tax returns.
Listed Topics
- Partnerships
- Subchapter S corporations
- Corporate tax returns
- Gift taxes
- Estate taxes
- Family tax planning and other primarily non-individual tax forms
- Fiduciaries
Reference Materials
Current tax textbook and current laws and regulations
Students who successfully complete this course acquire general knowledge, skills and abilities that align with CCAC’s definition of an educated person. Specifically, this course fulfills these General Education Goals: - Critical Thinking & Problem Solving
- Information Literacy
Approved By: Quintin B. Bullock Date Approved: 2/18/2022
Last Reviewed: 2/1/2022
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