ACCT 179 Federal Income Tax Preparation (5 credits)
Formerly ACCNT 179
Course Description
Federal income tax law and preparation with primary emphasis on individual income tax.
Course Content
A. Preparation of Individual Income Tax Forms including 1040EZ, 1040A, 1040 and applicable schedules.
B. Qualifications of various filing statuses and dependent exemptions.
C. Tax consequences of capital gains and losses.
D. Various tax credits and itemized deductions.
E. Various items of gross income and exclusions from gross income.
Student Outcomes
1. Demonstrate understanding of the purpose and theory of Federal tax law.
2. Explain concepts of basic tax planning for individuals.
3. Identify elements of taxable income.
4. Analyze adjustments to gross income.
5. Differentiate between categories of allowed deductions.
6. Describe tax credits available to individual taxpayers.
Degree Outcomes
Program Outcome: Possess knowledge of and be ready to perform basic functions of bookkeeping/accounting procedures and duties as required in the entry level bookkeeping/accounting positions.
Information Competency: Graduates will be able to seek, find, evaluate and use information and employ information technology to engage in lifelong learning.
Critical, Creative, and Reflective Thinking: Graduates will evaluate, analyze, synthesize, and generate ideas; construct informed, meaningful, and justifiable conclusions; and process feelings, beliefs, biases, strengths, and weaknesses as they relate to their thinking, decisions, and creations.
Lecture Contact Hours 50
Lab Contact Hours 0
Clinical Contact Hours 0
Total Contact Hours 50
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