ACCT 320 - Federal Income Tax I

3 credits
3 hours per week.

This course introduces theories underlying federal tax law. The course also briefly covers types of tax audits and the appeals process. Major topics covered are: exemptions, filing status, income inclusions and exclusions, deductions for employee and self-employed taxpayers, property transactions, capital gains and losses, amended tax returns, individual and business tax credits, and introduction to employee retirement plans. Students prepare tax returns throughout the course using commercial tax preparation programs and complete some tax research for compliance and planning.

Prerequisite(s) ACCT 202 or ACCT 212 completed with a grade of “C” or higher
Offered (FALL/SPRING)