ACCT 323 - Federal Taxation-Individuals

Institution:

SUNY College at Oneonta

Subject:

Description:

3 s.h. Applications of the Internal Revenue Code and Regulations, Revenue Rulings, and federal court decisions affecting individual taxpayers (including self-employed). Topics covered include a brief overview of the important concepts underlying taxation, legislation and court decisions which led to enactment of the 16th amendment providing for the constitutionality of an income tax; income inclusions and exclusions; deductions; ordinary losses; tax credits; capital gains and losses; property transactions, and retirement plans. Tax return preparation using professional software and tax research for compliance and planning. Writing assignments will consist of preparing letters and reports to hypothetical tax clients and memos for working papers and supervisors to present findings and conclusions resulting from research relating to compliance, IRS audits, and tax planning. Students will be expected to use word processing, spreadsheets, and other professional software for these assignments. Prerequisite: ACCT 231 with a "C" or better and JrS.

Credits:

3.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.oneonta.edu

Phone Number:

(607) 436-3500

Regional Accreditation:

Middle States Association of Colleges and Schools

Calendar System:

Semester

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