The University of North Carolina at Greensboro
Bryan School of Business and Economics
Accounting 655
Taxation of Corporations and Shareholders
Fall 2015
Dr. Bill Harden, Ph.D., CPA, ChFC
Office: 384 Bryan Bldg.
Phone: 256-0188
e-mail: jwharden@uncg.edu
Required:
Office Hours:
MW 9:45 – 10:45 a.m.
M 3:30 – 4:30 p.m.
or by appointment
Fundamentals of Corporate Taxation, 8th edition
Lind, Schwarz, Lathrope, Rosenberg
Foundation Press
Prentice Hall’s Federal Taxation 2016 Comprehensive
Pope, Anderson, Kramer
(2015 version okay if purchased for an undergraduate course,
student is responsible for updating material.)
Federal Income Tax Code and Regulations Selected Sections
2014-2015 (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.
3
Grading:
Midterm Exam 1
Midterm Exam 2
Final Exam (Comprehensive)
Tax Return Projects
Homework and Participation (5 points
are for completing course eval)
Total
1000 – 930 points
929 – 900
899 – 880
879 – 830
829 – 800
799 – 700
Below 700 points
20%
20%
40%
10%
10%
200 points
200 points
400 points
100 points
100 points
100%
1000 points
A
AB+
B
BC
F
Tentative Schedule: (Please note the problem assignments are based on the
2015 edition. We will compare to 2016 at the beginning of the semester for any
renumbering.)
Date
August 17 M
August 19 W
August 24 M
August 26 W
August 31 M
Sept 2 W
Sept 7 M
Sept 9 W
Sept 14 M
Sept 16 W
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
Problems: Section 1231 and
Recapture
Overview of Taxation of
Corporations and Shareholders
&
Corporate Formation
Labor Day Holiday
Problems: Corporate Formation
Complete Corporate Formation
Problems and Review
Exam 1
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
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
No Classes
Anderson Ch C2: 30, 32, 37,
38, 39, 41, 43, 45, 47
Exam 1
4
Sept 21 M
Sept 23 W
Sept 28 M
Sept 30 W
Oct 5 M
Oct 7 W
Oct 12 M
Oct 14 W
Oct 19 M
Oct 21 W
Oct 26 M
Oct 28 W
Nov 2 M
Nov 4 W
Nov 9 M
Nov 11 W
Nov 16 M
Nov 18 W
Nov 23 M
Nov 25 W
Nov 30 M
Dec 7 M
Review Exam,
Read Anderson Chapter C3
Corporate Income Tax
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
Review Tax Accrual and Book
TBA
Tax Differences
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.