ACC 221 - Principles of Tax 2
3 Lecture Hours
Prerequisites: ACC 211
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.
Upon successful completion of the course, the student will:
- Memorize, name, order and recognize all necessary tax law regulations necessary to prepare non-individual entity tax returns.
- Identify, express and explain law choices intended to satisfy tax regulations and tax law.
- Choose and apply the cross-referencing symbols of the IRS Code to assure a complete appraisal of needed tax law.
- Utilize the Internal Revenue Tax Code to appraise, argue, assess and defend choices for non-individual tax return.
- Research problems using the Federal Income Tax regulations and the Code.
- Choose, assess, compare and argue in defense of tax law needed to prepare a corporate tax return , form 1120.
- Choose, assess, compare and argue in defense of tax law needed to prepare a federal gift return.
- Choose, assess, compare and argue in defense of tax law needed to prepare a U.S. estate tax return.
- Subchapter S
- Corporate tax returns
- Gift taxes
- Estate taxes
- Family tax planning, and other primarily non-individual tax forms
Current choice of: Tax Textbook
Additional texts include but are not limited to:
- Complete Internal Revenue Code
- Federal Income Tax Regulations
- Income Tax Fundamentals
- U.S. Master Tax Guide
- Your Personal Income Tax Publication 17
- Guide to Small Business Publication 334
- Appropriate software
Approved By: Johnson, Alex Date Approved: 12/13/2010
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