Dec 04, 2022  
2019-2020 Catalog 
    
2019-2020 Catalog [ARCHIVED CATALOG]

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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.


Learning Outcomes
Upon successful completion of the course, the student will:

  1. Memorize, name, order and recognize all necessary tax law regulations necessary to prepare non-individual entity tax returns.
  2. Identify, express and explain law choices intended to satisfy tax regulations and tax law.
  3. Choose and apply the cross-referencing symbols of the IRS Code to assure a complete appraisal of needed tax law.
  4. Utilize the Internal Revenue Tax Code to appraise, argue, assess and defend choices for non-individual tax return.
  5. Research problems using the Federal Income Tax regulations and the Code.
  6. Choose, assess, compare and argue in defense of tax law needed to prepare a corporate tax return , form 1120.
  7. Choose, assess, compare and argue in defense of tax law needed to prepare a federal gift return.
  8. Choose, assess, compare and argue in defense of tax law needed to prepare a U.S. estate tax return.
Listed Topics
  1. Partnerships
  2. Subchapter S
  3. Corporate tax returns
  4. Gift taxes
  5. Estate taxes
  6. Family tax planning, and other primarily non-individual tax forms
  7. Fiduciaries
Reference Materials
Current choice of: Tax Textbook
    Additional texts include but are not limited to:

  1. Complete Internal Revenue Code
  2. Federal Income Tax Regulations
  3. Income Tax Fundamentals
  4. U.S. Master Tax Guide
  5. Your Personal Income Tax Publication 17
  6. Guide to Small Business Publication 334
  7. Appropriate software

Approved By: Johnson, Alex Date Approved: 12/13/2010


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