Accounting 320:
Federal Taxation of Individuals
Instructor: Maggie Bartold
Phone: 312-252-7626
Fax: 312-263-6935
Email: mbartold@bk-cpa.com
(Students should type
“Dominican” in Subject Line)
Office Hours: TBD; By Appointment
Prerequisites: Acct 101
Course Description:
Accounting 320 represents an
exciting and challenging introduction to the federal taxation of
individuals. The course emphasizes
fundamental taxation theory and focuses on how tax information is prepared and
used. No previous coursework or work
experience in taxation is assumed. We
begin with a review of the federal tax system and tax research materials and
techniques. We proceed by examining the
content and significance of various tax provisions related to gross income,
deductions and losses, and credits. We
conclude with a review of the following topics:
property transactions, alternative minimum tax, and accounting periods
and methods. Students will reinforce
their understanding of course concepts through problem solving, class
discussions, in-class exercises, technology projects, research projects and
presentations.
Course Goals and Objectives
Upon completion of the
course, the student will have:
(adapted
from the AICPA Model Tax Curriculum)
From a specific content
perspective, students will understand:
(adapted
from: Willis, Hoffman, Maloney, and Raabe, West Federal Taxation: Comprehensive Volume, 2005 Edition, Thomson
South-Western 2005)
Consistent with departmental
goals established by the
Note: References to the
Course Materials
Required: Smith, Harmelink,
and Hasselback,
Optional: Wall Street Journal Subscription
Course Requirements
Examination One: 25%
Examination Two: 25%
Weekly Quizzes: 10%
Tax Return Problems: 10%
Research Project and
Presentation: 10%
Participation: 20%
Grading:
A 94-100%
A- 90-93.9%
B+ 87-89.9%
B 83-86.9%
B- 80-82.9%
C+ 77-79.9%
C 73-76.9%
C- 70-72.9%
D 60-69.9%
F Below 60%
Weekly Quizzes
Weekly quizzes will be
administered. Scores for your quizzes
will be factored into your grade by including your ten highest scores. No makeup quizzes will be given. Quizzes will be structured in CPA Exam format
to give students an introduction to what they can expect when sitting for the
Exam.
Examinations
Examinations will be
in-class. Students should bring a
non-programmable calculator to each exam.
Exams can only be re-scheduled with my prearranged consent. (This will
generally mean an exam being taken EARLIER than the designated date on the
syllabus.)
Tax Return Problems
Real life tax return
problems will be worked on in groups or individually. These problems will provide the student with
an idea of what they will encounter during a tax internship or entry-level tax
staff position after graduation.
Tax Research Problem and Presentation
Students will select a
research problem from several options. A
two—three page paper will need to be handed in by each student. The paper will be formatted to reflect the type
of research presentation that could be expected of an entry-level staff
professional. A 5-10 minute presentation
on the topic will also be required.
Students may work in groups but must turn in an individual tax research
memo and participate equally during oral presentations. Groups and topics will be determined during
the first several weeks of class.
Participation
Your class participation
grade will reflect the quality and consistency of your contribution to
discussions related to issue identification and decision-making problems at the
end of each assigned chapter in the textbook.
Mere attendance does not represent participation. Frequent absences will negatively impact your
participation grade.
Websites and Web-Based Resources
Students should familiarize
themselves with the
Other Requests
While I do not specifically grade on attendance, please make every effort to
attend all sessions and to actively participate. Your involvement will assist me in
determining your understanding of the course material.
For your convenience, I have
included the University’s Academic Integrity
Policy below:
Academic Integrity Policy
Students of the university
must conduct themselves in accordance with the highest standards of academic
honesty and integrity. Failure to
maintain academic integrity will not be tolerated. The following definitions are provided for
understanding and clarity.
Definitions of Plagiarism, Cheating and Academic
Dishonesty
Student plagiarism is the
deliberate presentation of the writing or thinking of another as the student’s
own. In written or oral work, a student
may make fair use of quotations, ideas, images, etc., that appear in others’
work only if the student gives appropriate credit to the original authors,
thinkers, owners or creators of that work.
This includes material found on the Internet and in electronic
databases. Cheating entails the use of
unauthorized or prohibited aids in accomplishing assigned academic tasks. Obtaining unauthorized help on examinations,
using prohibited notes on closed-note examinations, and depending on others for
the writing of essays or the creation of other assigned work are all forms of
cheating. Academic dishonesty may also
include other acts intended to misrepresent authorship of academic work or to
undermine the integrity of the classroom or of grades assigned for academic
work. Deliberate acts threatening the
integrity of library materials or the smooth operation of laboratories are
among possible acts of academic dishonesty.
Sanctions for Violations of Academic Integrity
If an instructor determines
that a student has violated the academic integrity policy, the instructor may
choose to impose a sanction, ranging from refusal to accept a work product to a
grade of “F” for the assignment to a grade of “F” for the course. When a sanction has been imposed, the
instructor will inform the student in writing.
The instructor must also inform the student that she/he has the right to
appeal this sanction, and refer the student to the Academic Appeals Process
described in the Bulletin of the Rosary College Arts and Sciences. The instructor will send a copy of this
letter to the Dean of the Rosary College of Arts and Sciences. The Dean will note whether a student has committed
multiple violations of the academic integrity policy over time, and in such
cases the Dean may institute a process leading to possible further sanctions,
including suspension or expulsion from the university. This process is as follows: The Dean will convene the Arts and Sciences
student members and the Arts and Sciences faculty members of the University’s
Student-Faculty/Staff Judicial Board, and present to the group a recommendation
for warning/reprimand, suspension or expulsion.
This group will review the Dean’s recommendation at a hearing to which
the student is invited. The group will
follow the process outlined in the “Student-Faculty/Staff Judicial Board”
section of the current Student Handbook, with the following exceptions: (1) The Dean of the
Rosary College of Arts and Sciences will convene the group, not the Dean of
Students. (2) The group will consist of the Arts and
Sciences student and faculty members, not the full Student-Faculty/Staff
Judicial Board. (3) The possible sanctions include only
Warning/Reprimand, Suspension and Expulsion.
Academic Appeals Process
Any disagreement with regard
to academic procedure, including individual cases of alleged violation of
academic integrity and final grades, should first be taken up with the
instructor. If this does not settle the
matter satisfactorily, the matter should be taken up with the departmental
chair. If the issue cannot be resolved
at the departmental level, it should then be presented to the Dean of the
Rosary College of Arts and Sciences. If the issue is still not resolved, the
student has the right to present the issue to the Educational Policies
Committee of the Arts and Sciences Council.
To do this, the student must provide a written statement of the issue
involved to the Dean, who will then place it on the agenda for the Educational
Policies Committee. The committee will
request a written response from the instructor and may, at its discretion, seek
further oral or written clarifications from the student and/or the instructor. The committee will evaluate the student’s
appeal and vote to approve or deny it.
If the committee denies the student’s appeal, the original grade will
stand. If the committee approves the
student’s appeal, the committee will determine the appropriate grade and submit
a change of grade form to the Dean. In
the event of a successful appeal of an alleged violation of academic integrity,
the original letter of notification from the instructor will be expunged from
the Dean’s file.
Date Topic Assignment
8/29 Course Introduction and Syllabus Review
8/31 Intro to Federal Taxation Read
Chapter 1
9/05 An Introduction to Tax Research Read
Chapter 2
9/07 Individual
Taxation – An Overview Read
Chapter 3
Handout
1; Chapter 3
Problems:
33,35,41,43,44
45,47,50,54
9/12 Gross Income Read
Chapter 4;
Problems:
21, 24,25,27,28
9/14 29,31,32,33,38,40,41,
43,46,47,48,50
Handout
2
9/19 Gross Income – Exclusions Read
Chapter 5;
Problems:
20, 22, 23,
9/21 35-40,
48
Handout
3
9/26 Deductions: General
Concepts Read
Chapter 6;
Problems
29, 34,35,41,42,
46,50,53
Handout
4
9/28
10/03 Deductions:
Business/Investment/PALs Read Chapter 7
Problems:
32,33,34,39,40,
41,45,46,48,49,51,52,53
10/05 Handout
5
10/10 Deductions: Itemized
Deductions Read
Chapter 8
Problems: 24,25,26,28,29
30,33,34,35,37,40,45,46,
51,
Handout 6
10/12
10/17 Examination One
10/19 Tax Credits, Prepayments and
Problems: 42,43,45,47,48
54,58, Handout 7
10/24
10/26 Property Transactions Read
Chapter 10
Problems:
21,23,26,27,
28,29,30,31,39,40,42
Handout
8
10/31
11/02 Property Transactions: Nonrecognition Read Chapter 11
Problems: 21,22,28,32,39
41,
Handout 8
11/07
11/09 Property Transactions: Capital and 1231 Read Chapter 12
Problems:
30,33,34,38,39,
40,42,44,49,50,54,55
Handout
9
11/14
11/16 Tax Accounting Read
Chapter 13
Problems:
30,31,33,37,38,
43,46,49,50,51,56
Handout
10
11/21
11/28 Deferred Comp and Education Savings Plans Read Chapter 14
Problems: 32,35,43,44,51
52,62, Handout 11
11/30
12/05 Examination Two
12/07 Tax Return Project/Interviewing
Skills/On the Job Discussion