The University of North Carolina at Greensboro Bryan School of Business and Economics
Federal Tax Concepts (ACC 420) – Fall 2010
Dr. Bill Harden, Ph.D., CPA, ChFC
Office: 384 Bryan Bldg.
Phone: 256-0188
e-mail: jwharden@uncg.edu
Office Hours:
MW 1:00 – 2:00
T 5:00 – 6:00
or by appointment
REQUIRED TEXTS & SOFTWARE:
1. Prentice Hall’s Federal Taxation 2011 Comprehensive, by Pope, Anderson,
and Kramer.
2. Federal Income Tax: Code and Regulations -- Selected Sections (2010-2011
edition) published by CCH, Martin Dickinson, editor.
3. Tax Preparation software for 2009 returns (optional) - any package such as
Turbo Tax, H&R Block At Home, or Tax Act is sufficient - need Federal only and basic
only package (not deluxe or business)
PREREQUISITE: ACC 318, Intermediate Accounting I, or equivalent with grade of C
or better
GRADING: Your letter grade for the course will correspond to the following grading
scale:
97% - 100%
93% - 96.9%
90% - 92.9%
87% - 89.9%
83% - 86.9%
80% - 82.9%
77% - 79.9%
73% - 76.9%
70% - 72.9%
67% - 69.9%
63% - 66.9%
60 % - 62.9%
< 60%
A+
A
AB+
B
BC+
C
CD+
D
DF
(If you are a graduate student, an A+ letter grade becomes an A and all grades below a C
become an F.)
GRADING:
Three Examinations (20,20,30%)
Tax Return Problems
Homework and Class Part.
Total points
70%
20% (see below)
10% (see below)
100%
COURSE OBJECTIVES: To provide students a basic knowledge of tax structure and
the fundamental skills for decision making regarding tax compliance and planning at the
individual taxpayer level.
ACADEMIC INTEGRITY: Students are expected to abide by the UNCG Academic
Integrity Policy. All examinations are expected to be done honestly and by your own
efforts. As much can be learned through discussions with each other, I encourage
students to discuss graded projects and assignments with other students, but the final
result for all of these should be each student's own work.
EXAMS: Exams are a combination of multiple choice and problems/essays. Students are
allowed to bring code book and a summary sheet to the exams.
CLASS PARTICIPATION: Class discussion and exchange of ideas is greatly
encouraged in this course. An explicit incentive is built into the course grading scheme
for participation. Students are expected to be prepared and engage in class discussion by
asking questions and responding to material presented. This places the responsibility on
the student for his/her own learning. The results of these efforts should be reflected in
better performance on the individual exams and the research assignments.
HOMEWORK: Homework is essential to success and survival in this course. For each
chapter there will be homework problems assigned. These assignments reflect the
material covered in the chapter and will reinforce learning if students discipline
themselves to work the problems prior to coming to class. Homework problems will be
selectively taken up throughout the semester. Students are expected to be prepared with
solutions by the date the problem is listed on the schedule. You may always check
solutions to the assigned problems in my office during office hours. Also, I will be happy
to talk with you about other matters during regularly scheduled office hours or by
appointment. The result of successful completion of the homework assignments should
result in better performance on the exams and other assignments. In order for the student
to be successful in this course, one must view and use the textbook as but only one source
among many to achieve the goals outlined above.
CLASS LECTURES: The format for class meetings will generally be used to present
chapter material, answer student questions about subject matter, and go over homework
assignments about which students have specific questions. This time should be viewed as
an opportunity to interact with the instructor and others in the class to gain insight into
tax matters covered in the text. There is a lot of material in the text and due to time
constraints, not all of which will be specifically covered in class. The student must take
responsibility for his/her own learning by reading the material in the chapter, preparing
the homework assignments prior to coming to class, and by participating in class
discussion on the relevant topics.
TAX RETURNS: You will be required to complete tax return problems. You may work
in two-person groups to complete the assignment. If software is used, it is the
responsibility of the student to be familiar with its use. Alternatively, you may complete
the return on IRS Forms that can be obtained from the IRS web site or the IRS District
Office located here in Greensboro. This assignment is intended to get you to put all the
information that you have learned over the course together in an integrative fashion to
enhance your overall understanding of important tax concepts and the applications of
those concepts in a practical manner. Completion of the tax return will reinforce the
material in the chapters and information gathered elsewhere (i.e., Internet, tax research,
etc.). The tax return will be due on the date listed on the attached assignment schedule.
Late assignments will not be accepted for any reason.
You may not seek advice or provide assistance from/to anyone else or from any other
group member, the IRS, tax professionals, etc. Questions should be referred to the
professor of the class. You are to attach a statement to this effect on the face of the
completed return. You may self-select the group member you want to work with on the
project. I suggest you do this soon after the semester begins so that you may collaborate
with this person in other class matters that arise. The tax return will be graded on several
dimensions including accuracy, completeness, neatness, and correctness.
USE OF COURSE WEB SITE: Materials for this course are available on the
University's Blackboard site at:
https://blackboard.uncg.edu
You are responsible for checking this site for announcements, power point slides, and
other materials relevant to the course. You are also expected to be checking your UNCG
email regularly.
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 references
at: http://www.uncg.edu/bae/faculty_student_guidelines.pdf
TENTATIVE SCHEDULE
DATE
TOPIC
Aug. 24 Intro, Ch. I1-Introduction to Taxation
31 Ch. C1--Tax Research
Sept. 7 Ch. I2—Determination of Tax
14 Ch. I3—Gross Income: Inclusions
ASSIGNMENT
2,5,10,12,14,16,17,21,29,37,39
1,5,10,14,20,23,24
3,4,5,7,21,22,29,30,33,35,43,44,52
12,24,25,34,35,44,45
21 EXAMINATION #1
28 Ch. I4—Gross Income: Exclusions
Oct. 5 Ch. I6—Deductions and Losses
6,9,10,13,15,16,33,35,39,40,44,47
1,2,3,4,6,8,9,10,11,13,15,27,33,34,35,53,
55
12 Fall Break
19 Ch. I7—Itemized Deductions
1,11,14,18,19,21,38,40,45,47,50,53
26 Ch. I10—Depreciation, Cost Recovery
1,4,6,16,28,29,31,32,35,39
Nov. 2 EXAMINATION #2
9 Ch. I8—Losses and Bad Debts
9,25,30,43,44,48,52,54,55,59
16 Ch. I9—Employee Expenses and
Deferred Compensation
1,4,28,30,42,53,54,62,64,67
23 Ch. I5-Property Transactions: Capital
Gains and Losses
2,4,6,15,35,37,40,44,49,57,59
30 Ch. I14-Special Tax Computation
Methods, Tax Credits and Payments
1,11,20,24,45,46,50,51,59
Dec. 7 Reading Day
14 FINAL EXAM (7:00 - 10:00)
Note that this schedule is tentative and subject to change at the discretion of professor.