The University of North Carolina at Greensboro
Bryan School of Business and Economics
Accounting 655
Taxation of Corporations and Shareholders
Fall 2010
Dr. Bill Harden, Ph.D., CPA, ChFC
Office: 384 Bryan Bldg.
Phone: 256-0188
e-mail: jwharden@uncg.edu
Required:
Office Hours:
MW 1:00 – 2:00
T 5:00 – 6:00
or by appointment
Fundamentals of Corporate Taxation, 7th edition
Lind, Schwarz, Lathrope, Rosenberg
Foundation Press
Prentice Hall’s Federal Taxation 2011 Comprehensive
Pope, Anderson, Kramer
(2010 version okay if purchased for ACC 420 last year, student is
responsible for updating material)
Federal Income Tax Code and Regulations Selected Sections
2010-2011
Martin Dickinson, Editor
CCH
(2009-2010 okay if purchased for ACC 420 last year 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 references
at: http://www.uncg.edu/bae/faculty_student_guidelines.pdf
Grading:
Midterm Exam
Final Exam
Tax Return Projects
Homework and Participation
Total
100-93%
92-90%
89-88
87-83%
82-80%
79-70%
Below 70%
A
AB+
B
BC
F
40%
40%
10%
10%
100%
3
Tentative Schedule:
August 23:
Topic: Overview of course,
Accounting Periods and Methods
Property Transactions: Nontaxable Exchanges
Read Anderson Chapters P11 and P12
Problems: Anderson (Ch 11) 38, 42, 46, 47, 48, 51
(Ch 12) 26, 28, 32, 36, 40, 45, 51
August 30:
Topic: Continue Nontaxable Exchanges
Property Transactions: Section 1231 and Recapture
Read Anderson Chapter P13
Problems: 33, 37, 39, 41, 43, 45, 47, 49, 56
September 6:
Labor Day Holiday
September 13:
Topic: Overview of Taxation of Corporations and Shareholders;
Corporate Formation
Read Lind Chapters 1 and 2, Anderson C2-1 to 2-27 and 2-34 to 2-36
Problems: Anderson 30, 32, 37, 38, 39, 41, 43, 45, 47; Lind TBA
September 20:
Topic: Corporate Income Tax
Read Anderson Chapter C3
Problems: Anderson 35, 36, 40, 42, 43, 44, 45, 46, 47, 52, 53, 54, 59
September 27:
Topic: Continue Corporate Income Tax
October 4:
Midterm Examination
October 11:
Fall Break
October 18:
Topic: Review Exam; Capital Structure
Read Lind Chapter 3, Anderson C2-27 to 2-34
Problems: Lind TBA; Anderson 48, 55
4
October 25:
Topic: Penalty Taxes
Read Lind Chapter 14, Anderson Chapter C5
Problems: Anderson 36, 40, 44, 53, 54, 56, 58, 59, 60, 61
November 1:
Topic: Continue Penalty Taxes
November 8:
Topic: Dividends and Non-liquidating Distributions
Read Lind Chapter 4, Anderson C4-1 to 4-13
Problems: Anderson 28, 30, 31, 33, 34, 35, 36, 38
November 15:
Topic: Redemptions and Partial Liquidations
Read Lind Chapter 5, Anderson C4-16 to 4-27 and 4-30 to 4-37
Problems: Anderson 44, 45, 46, 47, 49, 50, 52, 55, 56
November 22:
Topic: Stock Dividends and Section 306
Read Lind Chapter 6, Anderson C4-13 to 4-16 and 4-27 to 4-30
Problems: Anderson 41, 42, 53, 54; Lind TBA
November 29:
Topic: Liquidations
Read Lind Chapter 7, Anderson Chapter C6
Problems: Anderson 34, 35, 36, 37, 39, 40, 41, 42, 46, 47, 52
December 6:
Topic: Taxable Corporate Acquisitions
Read Lind Chapter 8, Anderson C7-1 to 7-13
Problems: Anderson 41, 43, 46, 49 Lind TBA
December 13: Final Examination 7:00 – 10:00 pm.
Please be aware that topics may be shifted slightly based on the speed and
understanding of the class.