Accounting and MIS 7420: Tax Accounting III
Course Syllabus – Spring 2014
Tuesday and Thurursday 3:00 – 4:30 pm – Gerlach Hall 355
Instructors
Alan J. Lacko
Office:
052 Fisher Hall
Phone:
614-205-6365
E-mail:
lacko.2@osu.edu
Office Hours:
Tuesdays and Thursdays 4:30 to 5:30 pm
Course Materials:
Required - Hoffman, Raabe, Smith, Maloney, 2014 ed. South-Western Federal Taxation:
Corporations, Partnerships, Estates and Trusts, ISBN 1-285-42448-4
Reference - Primary law sources, internet sites, and commercial research material, located in
university and law school libraries in traditional formats, and in electronic formats on the OSU
library site.
Course Description:
This course involves intensive study of the federal income tax treatment of business corporations,
with particular attention devoted to tax planning by these businesses and their owners.
Prerequisite: AMIS 3400 (626), AMIS 7400, enrollment in the Master of Accounting program, or
equivalent. Completion of AMIS 7410 is highly recommended as many concepts are a
continuation from that class.
Course Objectives:
This course is designed to acquaint the student with the workings and concepts of the federal tax
law, especially as it pertains to complex transactions of business entities, cross-border
transactions, and family tax planning.
Students are assumed to be interested in becoming business advisors, with an emphasis on
financial and accounting subject matters. Previous tax education is assumed to entail one previous
course focused on individual taxation as well as one previous course covering corporate taxation.
The course will not turn the student into a “tax expert,” nor is it designed to prepare one for the
taking of professional examinations. The concepts and work habits acquired, though, will form a
solid foundation for further study and practice.
Course Methods:
AMIS 7420 will be conducted in a lecture/discussion format along with the completion of various
case studies. My job is to help you understand key concepts and issues. I will explain and
illustrate important concepts in a lecture-like format and will engage you in dialogue through
answering questions and working through problems in class. Your job is to be prepared for every
class by reading (in advance) the relevant chapter and completing the assigned problems. You
are encouraged to ask questions and be actively involved in class discussions.
Case Studies can be submitted individually or by a team of two. Regular class attendance will
improve your chances of meeting the course objectives.
OSU’s policies as to academic integrity, and the MAcc Code of Ethics and Responsibilities, are
incorporated herein by reference.
Academic Misconduct:
Academic misconduct will not be tolerated. According to University Rule 3335-31-02, all
suspected cases of academic misconduct will be reported to the Committee on Academic
Misconduct.
Disability Services:
The Office of Disability Services verifies students with specific disabilities and develops
strategies to meet the needs of those students. Students requiring accommodations based on
identified disabilities should contact the instructor at the beginning of the quarter to discuss his or
her individual needs. All students with a specific disability are encouraged to contact the Office
of Disability Services to explore the potential accommodations available to them.
Course Communications:
Course information and assignments will be communicated via Carmen and university e-mail, so
it is important that you regularly check your accounts.
Professionalism/Participation:
Attendance and being actively engaged is expected in the business world and it is expected in this
course. Questions will routinely be asked of the class. Responding with the “right” answer is not
the objective, but rather being prepared for and engaged in class is what is important.
Homework:
Homework assignments will not be collected and will generally not be reviewed in class.
Recommended homework problems will be posted on Carmen throughout the semester, and the
solutions to these problems will also be posted on Carmen. These assignments are designed to
help you perform well on the graded cases/problems to be completed in class, as well as on the
exam.
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Cases / Problem Sets:
Students will work through a variety of problems and cases pertaining to topics covered in the
course. Students may work in groups of two or three and these cases will generally be completed
during class in a workshop setting. The use of the textbook and class notes is permitted to assist
working through these assignments. Collaboration with individuals outside of your own group is
not permitted and constitutes academic misconduct. I will not answer questions about the
assignment (except to clarify any unclear wording), as these are designed to help you develop
your skills of applying tax rules/law to specific scenarios. No make-up assignments will be given.
Your lowest case score will be dropped to compensate for one unexpected absence during the
quarter.
Quizzes:
Six quizzes will be administered during the academic term. These will be given at beginning of
the class period and will typically last no longer than 10 minutes. Your lowest quiz grade will be
dropped. If you are absent from class (excused or unexcused), you will receive zero points for
that quiz. Quizzes are closed-book, closed- note and will consist of True/False, fill-in-the-blank,
and multiple choice questions.
Quizzes will contain questions from the prior class session. To enhance your chances of doing
well on the quizzes, you should review your class notes from the prior class session (including
posted solutions to the in-class problem sets). Quizzes must be completed and submitted
individually.
Exams:
A comprehensive final exam will be given on the date the University has scheduled. The exam
may consist of multiple choice, essay questions, and problems. The exam will test the application
of knowledge acquired from class lectures, reading assignments, homework assignments and
class discussions. You may bring a set of notes to the exam; requirements related to the note
sheet/card will be conveyed to the class at least one week prior to the exam date.
If you miss the exam for a university-excused absence (e.g., sickness, death in immediate family)
and provide sufficient documentation to support your situation, you will receive an excused
absence.
Course Grade:
Your final grade in this course will be determined by the total points you earn. The maximum
points you can earn from each are as follows:
Professionalism/Participation
Cases
Quizzes
Final exam
Total
50 points
250 points
200 points
200 points
700 points
Final grades will be determined based upon a student’s relative performance to his or her peer
group and without regard to the percentage of total points earned.
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Grade Disputes:
It is your responsibility to ensure grades posted on Carmen reflect your score on any particular
assignment. Any concerns or questions about grading on a quiz or exam must be resolved within
one week after the graded quiz, case or exam is returned in class. Individual grading issues will
be handled outside of normal class time.
Notification of Scores and Final Grades:
The results of any graded materials, including final grades, will not be given by the instructor to
individual students via phone, e-mail or prior to the initial returning of the assignment in class.
Final grades will be available online from the Registrar within one week following the final
exam.
Disenrollment:
University Rule 3335-8-33 provides that a student may be disenrolled after the third instructional
day of the quarter, the first Friday of the quarter, or the student’s second class session of the
course, whichever occurs first, if the student fails to attend the scheduled course without giving
prior notification to the instructor.
Teaching Plan and Assignment Schedule:
The following schedule is subject to change; changes will be announced in class and posted on
Carmen. Reading Assignments should be completed before the class on the assigned day.
Date(s)
1/7/14
1/9/14
1/14/14
1/16/14
1/21/14
1/23/14
1/28/14
1/30/14
2/4/14
2/6/14
2/11/14
2/13/14
2/18/14
2/20/14
Chapter/Topic
Introduction and overview, Earnings and Profits,
and Comparative Forms of Doing Business
Comparative Forms of Doing Business
Corporate Redemptions and Liquidations
Corporate Redemptions and Liquidations
(continued)
Capital Restructurings
Capital Restructurings (continued)
Consolidated Tax Returns
Consolidated Tax Returns (continued)
International Taxation
International Taxation (continued)
Multistate Taxation
Multistate Taxation (continued)
Miscellaneous Topics
Review – Summary - Exam
4
Reading
Assignment
Cases & Quizzes
Ch 13
Ch 6
Case Study
Ch 13 Quiz
Ch 7
Ch 8
Ch 9
Ch 16
Case Study
Ch 6 Quiz
Case Study
Ch 7 Quiz
Case Study
Ch 8 Quiz
Case Study
Ch 9 Quiz
Case Study
Ch 16 Quiz
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