ACCT 370 Taxation-Individual

This course provides an introduction to taxation in the United States. The primary orientation is the taxation of income. The rules for the taxation of income are found in Title 26 of the U.S. Code. The course will focus on research cases and problems oriented to answering questions relative to the application of the IRS Code. After an introduction to the basic tax model, the course examines gross income, its concept, inclusions and exclusions. There follows a detailed examination of deductions and losses. In particular, self-employed business expenses, cost recovery, employee expenses, itemized deductions, and passive activity losses. Part of the assigned work is the completion of personal tax forms including Form 1040 and related forms. These forms are available from the IRS website, Shafer Library has access to legal databases, which permit the student to view code and regulation sections, as well as court cases relative to those code sections.




ACCT 221