The University of North Carolina at Greensboro
Bryan School of Business and Economics
Accounting 655
Taxation of Corporations and Shareholders
Fall 2014
Dr. Bill Harden, Ph.D., CPA, ChFC
Office: 384 Bryan Bldg.
Phone: 256-0188
e-mail: jwharden@uncg.edu
Required:
Office Hours:
MW 9:30 – 10:30 a.m.
M 3:30 – 4:30 p.m.
or by appointment
Fundamentals of Corporate Taxation, 7th or 8th edition
Lind, Schwarz, Lathrope, Rosenberg
Foundation Press
Prentice Hall’s Federal Taxation 2015 Comprehensive
Pope, Anderson, Kramer
(2014 version okay if purchased for an undergraduate course,
student is responsible for updating material.)
Federal Income Tax Code and Regulations Selected Sections
2013-2014 (optional text)
Martin Dickinson, Editor
CCH
(Earlier versions okay, but student is responsible for updating
material)
Objectives:
This course deals with principles of taxation associated with corporations
and shareholders. The student will be introduced to a life-cycle approach of tax
accounting for corporations focusing on issues such as formation, operation, and
distributions of corporations.
Specifically, the student will develop the ability to:
1. The student will gain a working knowledge of the technical tax law as it
pertains to corporations and shareholders.
2. The student will continue to acquire skills necessary to conduct sophisticated
tax research via the use of major tax resources available to them.
3. The student will develop and strengthen oral and written communication
skills, particularly as they pertain to the technical and legal language of tax
law.
2
These objectives will be accomplished through:
1. Reading and discussing the required assignments. Note that the IRC and
Regulations listed in the texts should be read along with the text materials.
2. Preparing written solutions to problem and case assignments.
3. In class discussion of these problems and cases and the related law.
Policies:
1. This is a seminar class, therefore attendance is crucial. Late work will not be
accepted. I reserve the right to drop students after two unexcused
absences. Also, beginning with the second unexcused absence, any
additional unexcused absences will result in your final average being reduced
by 1 point for each unexcused absence. If you must miss a class, you may
turn in the assignment early.
2. Students are expected to take the exams as scheduled. If you have an
emergency, you must notify me before the exam, and only university excused
absences will be accepted. You will be expected to provide verification of the
emergency before a make-up will be scheduled.
3. Attendance will be taken at the beginning of each class and will count as
part of your participation grade.
4. Homework will be taken up on an unannounced basis throughout the
semester and will be graded for effort.
5. IF YOUR CELL PHONE GOES OFF DURING AN EXAM YOUR PAPER
WILL BE COLLECTED AT THAT POINT AND YOU WILL NOT BE
ALLOWED ADDITIONAL TIME TO COMPLETE YOUR EXAM.
6. Late work will not be accepted.
7. The complete Bryan School faculty and student guidelines can be referenced
at: http://www.uncg.edu/bae/faculty_student_guidelines.pdf.
UNIVERSITY POLICIES & RESOURCES
 Students are expected to abide by the UNCG’s Academic Integrity Policy
and the Student Code of Conduct:
o Student Conduct: http://sa.uncg.edu/handbook/student-code-ofconduct/
o Academic Integrity Policy:
http://sa.uncg.edu/handbook/academic-integrity-policy/
 Student Disabilities - Any request for special accommodations must
come through the Office of Accessibility Resources and Services with the
appropriate paperwork. Please visit http://ods.uncg.edu for further
information.
 Students in Distress: UNCG cares about your success as a student. We
recognize that students often balance many challenging personal issues
and demands. Please take advantage of the University resources
designed to help. For assistance accessing these resources, contact the
Dean of Students Office at 334-5514 or Student Academic Services at
334-5730. The Counseling and Testing Center is available for mental
health assistance, 334-5874. You may also visit me during my office
hours.
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Grading:
Midterm Exam 1
Midterm Exam 2
Final Exam (Comprehensive)
Tax Return Projects
Homework and Participation
Total
100 - 93.00%
92.99 - 90.00%
89.99 - 88.00%
87.99 – 83.00%
82.99 – 80.00%
79.99-70.00%
Below 70.00%
20%
20%
40%
10%
10%
100%
A
AB+
B
BC
F
Tentative Schedule:
Date
August 18 M
August 20 W
August 25 M
August 27 W
Sept 1 M
Sept 3 W
Sept 8 M
Sept 10 W
Sept 15 M
Sept 17 W
Sept 22 M
Topic
Overview of course,
Accounting Periods and Methods
Property Transactions:
Nontaxable Exchanges
Problems: Accounting Periods
and Methods and Nontaxable
Exchanges
Property Transactions: Section
1231 and Recapture
Labor Day Holiday
Problems: Section 1231 and
Recapture
Overview of Taxation of
Corporations and Shareholders
&
Corporate Formation
Problems: Corporate Formation
Complete Corporate Formation
Problems and Review
Exam 1
Review Exam,
Corporate Income Tax
Assignment
Read Anderson Chapters I11
Read Anderson Chapters I12
Anderson Ch I11: 37, 38, 42,
46, 47, 48, 51, 56
Ch I12: 26, 28, 32, 35, 36, 40
Read Anderson Chapter
I13
No Classes
Anderson Ch I13: 33, 37, 39,
41, 43, 45, 47, 49, 56
Read Lind Chapters 1 and 2,
Anderson C2-1 to 2-27 and 234 to 2-36
Anderson Ch C2: 30, 32, 37,
38, 39, 41, 43, 45, 47
Exam 1
Read Anderson Chapter C3
4
Sept 24 W
Sept 29 M
Oct 1 W
Oct 6 M
Oct 8 W
Oct 13 M
Oct 15 W
Oct 20 M
Oct 22 W
Oct 27 M
Oct 29 W
Nov 3 M
Nov 5 W
Nov 10 M
Nov 12 W
Nov 17 M
Nov 19 W
Nov 24 M
Nov 26 W
Dec 1 M
Dec 8 M
Corporate Income Tax
Problems: Corporate Income Tax Anderson Ch C3: 34, 35, 37,
38, 39, 42, 43, 44, 45, 46, 47,
52, 53, 58, 59
Problems: Corporate Income Tax
Capital Structure
Lind Chapter 3, Anderson C227 to 2-34 and Problems
Anderson Ch C2: 48, 55
Penalty Taxes
Read Lind Chapter 14,
Anderson Chapter C5
Fall Break
No Classes
Penalty Taxes
Problems Penalty Taxes
Anderson Ch C5: 36, 37, 40,
41, 43, 46, 53, 58, 59, 62, 64,
66
Problems Penalty Taxes
Exam 2
Exam 2
Review Exam;
Read Lind Chapter 4,
Dividends and Non-liquidating
Anderson C4-1 to 4-13
Distributions
Dividends and Non-liquidating
Distributions
Problems: Dividends and NonAnderson Ch C4: 27, 28, 30,
liquidating Distributions
32, 33, 34, 35, 36, 37
Redemptions and Partial
Read Lind Chapter 5,
Liquidations
Anderson C4-16 to 4-27 and
4-30 to 4-37
Problems: Redemptions and
Anderson Ch C4: 44, 45, 46,
Partial Liquidations
47, 49, 50, 52, 55, 56
Stock Dividends and Section 306 Read Lind Chapter 6,
Anderson C4-13 to 4-16 and
4-27 to 4-30 and
Problems: Anderson Ch C4:
41, 43, 53, 54
Liquidations
Read Lind Chapter 7,
Anderson Chapter C6
Problems: Liquidations
Anderson Ch C6: 33, 35, 36,
37, 39, 40, 41, 42, 46, 47, 52
Thanksgiving Holiday
No Classes
Problems: Liquidations;
Review
Final Exam 3:30 to 6:30 p.m.
Final Exam
Please be aware that topics may be shifted slightly based on the speed and
understanding of the class.