ACCOUNTING 2200-01
TAX ACCOUNTING
CLASS SYLLABUS - FALL 2014
(Subject to Change)
Instructor:
Class time:
Location:
Email:
Office:
Office phone:
Office hours:
I.
II.
III.
IV.
V.
VI.
VII.
VIII.
IX.
X.
XI.
XII.
XIII.
XIV.
XV.
XVI.
XVII.
XVIII.
XIX.
XX.
XXI.
XXII.
Rick Serafini, CPA, CMA, MAC
T, TH: 8:00 – 9:15
A 321
rick_serafini@ivcc.edu
A 327
815-224-0392
Monday
8:45-9:15, 6:00-6:30
Tuesday
9:30-11:00
Wednesday
8:45-9:15
Thursday
9:30-11:00
Friday
8:15-9:15
Also By Appointment
TABLE OF CONTENTS
Course Description
Prerequisite
Expected Learning Outcomes
Required Materials
Assessment of Student Learning
Grading Scale
Contesting of Grades
Structure of Class
Classroom Rules
Instructor Expectations
Assessment Guidelines
Attendance Policy
Late Submission Policy
Extra Credit Policy
Plagiarism & Cheating
Special Needs
Withdrawal Policy & Financial Aid
Communicating with the Instructor
Student Email
On-line Requirements
Assignments & Due Dates
Class Schedule
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I. COURSE DESCRIPTION
This course is designed to give the student an introduction into federal income taxation
in the United States. Various topics are discussed including working with the tax law,
determining gross income, deductions, tax credits, and property transactions.
II. PREREQUISITE
ACT 1210
III. EXPECTED LEARNING OUTCOMES
Upon successful completion of the course, the student will have covered;
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An Introduction to Tax
Tax Compliance, the IRS and Tax Authorities
Tax Planning Strategies and Related Limitations
Individual Income Tax Overview
Gross Income and Exclusions
Individual Deductions
Individual Income Tax Computation and Tax Credits
Business Income, Deductions, and Accounting Methods
Property Acquisition and Cost Recovery
Property Dispositions
Investments
Compensation
Retirement Savings and Deferred Compensation
Tax Consequences of Home Ownership
IV. COURSE MATERIALS
REQUIRED -
Taxation of Individuals, Spilker, 2015 Edition
CONNECT access code
V. ASSESSMENT OF STUDENT LEARNING
Point Distribution
Exams
4
LearnSmart
12
Chapter Assignments
12
Comprehensive Tax Problems 2
Total
630 points
150 points
180 points
40 points
1,000 points
2
VI. GRADING SCALE
90% - 100%
80% - 89%
65% - 79%
55% - 64%
< 55%
(900 – 1,000) pts
(800 – 899) pts
(650 – 799) pts
(550 – 649) pts
< 550
A
B
C
D
F
The instructor reserves the right to apply a class curve to points awarded. Final grades
are based on points, not percentages!
VII. CONTESTING OF GRADES
Any student wishing to contest a grade for any assignment must do so within 48 hours of
the posting of the grade on Blackboard – days when the college is closed do not count.
All grades after this time are final and not subject to change!
VIII. STRUCTURE OF THE CLASS
Class time is important in the sense that we have a limited amount of time to cover a
great deal of material; as such time is of the premium so we will try to stick to our schedule
and cover the material in an organized fashion.
Class time will be split between lecture, both by demonstrating the concepts covered at
the board as well as the use of PowerPoint slides and other visual aids. The material is
very detailed and can be confusing so essentially my lectures are more of a “walkthrough” of the chapter material. You should be prepared to take detailed notes and
mark your text as I go along pointing out what I feel are important facts that you should
concentrate on. We will also spend time examining the examples the author has
scattered throughout the text. We will review these as we go along to be sure you have
a sound understanding of each topic covered.
In addition, we will be working through some of the discussion questions that can be
found at the end of each chapter as a supplement to my lectures. Finally, be sure to bring
your homework with you that you completed in CONNECT since we will be reviewing the
correct solutions in class the day following the due date of the assignment.
I encourage you to ask questions as we go along. Your participation will be of benefit not
only to you but also to your fellow students as it is an aid in the overall learning process.
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IX. CLASSROOM RULES
A few rules for the classroom are;
1) All cell phones are to be turned OFF and PUT AWAY during class.
2) Professionalism - Professionalism is an important part of the business world
and is demanded of those who choose accounting as their career. Part of the
learning process involves understanding what is expected of you in class
including your behavior and attitudes toward your instructor and fellow
students. As part of this class you will be required to be respectful of others,
to show courtesy, and to conduct yourself in a professional manner.
3) Promptness – You are expected to be in class ON TIME. If you arrive late it can
be a distraction to others in class. I reserve the right to ask you to leave if you
continue to arrive late for class.
X. INSTRUCTOR EXPECTATIONS
The reading material in a typical tax course can be difficult and extremely detailed. Tax
law is complicated and application of that law is dependent upon a number of factors
unique to each situation. You will be required to familiarize yourself with a number of
situations that require you to use your research and interpretive capabilities to properly
apply the law as it relates to each problem.
We will be covering 14 chapters in total, or nearly one chapter per week. Each week you
should at a minimum read through the complete chapter once, then go back and read the
chapter again outlining those areas of the chapter that you feel are most important. Do
not try to memorize all the various laws and regulations, instead attempt to gain an
understanding as to how the laws are applied.
Exams will be open book; however you MUST understand the material and know how to
apply the tax code given each situation. When preparing tax returns for the public, tax
preparers have at their disposal various reference materials and their ability to find the
appropriate tax code and apply that law to their situation determines their effectiveness
as a preparer.
Likewise, in order to do well on the exams, you should have a sound understanding of the
material and be able to quickly use your text as a resource guide to look up a particular
area when answering a tax question. You must understand the material and how to find
what you’re looking for in an efficient manner, much like real-world tax preparers.
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You should also review solutions to the homework, quizzes, and problems each week.
You will be required to use a great deal of self discipline in order to keep up with the
assignments and be prepared for the four exams throughout the semester; therefore you
should expect to devote (10) hours or more per week to the material and assignments.
Some students may find that more or less time is required depending upon their grasp
of the material.
XI. ASSESSMENT GUIDELINES
(1) Chapter Assignments
You will have 14 chapter assignments with only the highest 12 counting. Questions will
be in the form of problem solving. Each chapter assignment consists of around 12
problems for a total of 15 points. The due dates for all homework can be found under
the file mentioned above entitled “Assignments and Due Dates”.
All submissions will be made through the CONNECT program and will be graded
automatically. The points assigned by CONNECT will be converted for each assignment
to 15 points in Blackboard.
Answers to all of the chapter assignments will be made available in CONNECT one day
after the due date of the assignment. To view the solutions to the homework go to your
grade book tab and click on the assignment after the due date; there you will see the
correct solutions. This should be done after each assignment so you can see where you
had difficulty and what areas you should go back and review. We will review the
homework in class to give you time to ask questions and review your solutions. After
reviewing the solutions, carefully go back to the text and make sure you understand
where the author came up with his logic for the answer. Should you need further
clarification on specific homework questions please contact the instructor.
(2) LearnSmart
You will be required to complete a LearnSmart module for each of the 14 chapters with
the highest 12 scores counting. You may use whatever materials you need in order to
complete the LearnSmart module. Each module is worth 12.5 points. The due dates for
all quizzes can be found under the file mentioned above entitled “Assignments and Due
Dates”.
All submissions will be made through the CONNECT program and will be graded
automatically. The points assigned by CONNECT will be converted for each assignment
to 12.5 points in Blackboard.
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(3)Exams
There will be four exams totaling 630 points. The exams with their relative point value
and coverage area are as follows:
Exam #1
Exam #2
Exam #3
Exam #4
Chapters 1, 2, 3, 4
Chapters 5, 6, 7, 8
Chapters 9, 10, 11
Chapters 12, 13, 14
180 points
180 points
135 points
135 points
Exams will be open book. A calculator will be provided to you for the exams.
Exams will consist of multiple choice with both theory and problem solving questions.
Exams will have a time limit of 1 hour and 15 minutes per exam.
Your ability to complete the exams in a timely manner will depend upon how well you
have mastered the chapter material that has been assigned to you.
Exams will be reviewed on the next scheduled class date. Should you wish to review the
results with your instructor in detail please contact me and we can set up a time to
meet.
(4)Comprehensive Tax Problems
You will be assigned two comprehensive tax problems that will require you to use material
covered throughout the course. The tax problems will require you to complete an actual
tax return similar to what you might encounter in the real world. Both problems are
worth a total of 40 points.
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XII. ATTENDANCE POLICY
You are expected to attend class regularly. It is imperative that you attend class as much
as possible in order to improve your chances of success in this course.
In order to impress upon you the importance of attendance, you will be limited to the
amount of absences allowed, both excused and unexcused, during the semester. There
are a total of 32 class meetings with 23 prior to and including the withdrawal date and
another 9 beyond that. You may not miss more than 5 classes for any reason during the
period 8/18/15 to and including 11/03/15. If you do, the instructor reserves the right
to withdraw you from class without prior notification!
As a final note, absences will negatively affect any borderline grades!
XIII. LATE SUBMISSION POLICY
All assignments are due on the date indicated under the section entitled “Assignments
and Due Dates” found in this Class Syllabus. ALL ASSIGNMENTS ARE DUE ON THE DATE
IDENTIFIED IN THIS DOCUMENT WITH NO EXCEPTIONS WHATSOEVER. The following
are specific guidelines for each of the assessment types:
(1) Chapter Assignments, and LearnSmart Assignments;
I realize that there can always be unforeseen circumstances outside of the control of the
student which will make it impossible to meet a due date for a given assignment;
therefore I will drop the (2) lowest chapter assignments, and the (2) lowest LearnSmart
assignments. This will allow for most any unforeseen circumstances that might arise. No
late submissions for the comprehensive problems will be allowed under any
circumstances.
(2) Exams;
Exams are due on the date specified under “Assignments and Due Dates”. Reproduced
here are the dates for each of the exams;
Exam 1
Exam 2
Exam 3
Exam 4
09-10-15
10-13-15
11-12-15
12-10-15
There will be no makeup tests unless the student contacts the instructor before the date
shown above for each of the exams. If the student does not contact the instructor
before this date they will receive a zero (0) for that exam! If the student does contact
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the instructor with a legitimate reason as determined by the instructor as to why they
cannot take the exam during the time allotted, the student will be granted a 1 day
extension. This will be done only under extreme circumstances!
I reserve the right to give the student a completely different exam in the case of a
makeup. The makeup exam will be dropped off at the Assessment Center by 8:00AM
following the date of the scheduled exam. It is the student’s responsibility to contact the
Assessment Center to make arrangements to take the exam by the next school day.
Please call the Assessment Center at 815-224-0542 to make the necessary arrangements.
(3) Tax Problems;
Tax Problems are due on the dates specified under the document Assignments and Due
Dates. No late submissions will be allowed for any tax problems assigned.
THERE WILL BE NO EXCEPTIONS BEYOND THIS POLICY FOR ANY REASON!
XIV. EXTRA CREDIT POLICY
No extra credit is given in this course; however the instructor reserves the right to add
additional assignment(s) as extra credit should it be considered beneficial to the learning
process.
XV. PLAGIARISIM AND CHEATING POLICY
Plagiarism involves using another person’s exact words or thoughts without citing the
source in your work. Plagiarism is therefore an illegal act that constitutes a type of theft
from another individual. Such actions are not tolerated in the business world and will not
be tolerated in class. Whenever exact quotes are used, citing the source of the original
material is required. Illinois Valley Community College prohibits plagiarism in any form.
Students found plagiarizing or cheating in any way will result in automatically failing the
course and/or dismissal from the college.
XVI. SPECIAL NEEDS
This course is designed to support diversity of learners. My hope is to create a safe
environment for all students. If you want to discuss your learning experience, please
talk to me as early in the term as possible. If you know you have, or suspect you have a
disability (learning disability, physical disability, or psychiatric disability such as anxiety,
depression, AD/HD, or others) for which you may need accommodations, please
contact the Disability Services Office in C-211. Tina Hardy tina_hardy@ivcc.edu, 2240284) can help determine if you are eligible for support.
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XVII. WITHDRAWAL POLICY AND FINANCIAL AID
You may be withdrawn from the class in one of two ways;
Instructor initiated – Based on the attendance requirement outlined above, I reserve the
right to withdraw a student from class without prior notification if the student misses the
number of classes identified under the Attendance Policy outlined above.
Student initiated - Effective Summer 2011, students will have the ability to initiate a
withdrawal from classes. By completing the form in the Records Office or at
www.ivcc.edu/withdraw, the student is authorizing IVCC to remove him/her from the
course. Entering the student ID number serves as the student’s electronic signature. IVCC
has the right to rescind a withdrawal in cases of academic dishonesty or at the
instructor’s discretion.
Students should be aware of the impact of a withdrawal on full-time status for insurance
purposes and for financial aid. It is highly recommended that students meet with their
instructor or with a counselor before withdrawing from a class to discuss if a withdrawal
is the best course of action for that particular student. The last day to withdraw for this
class is November 4, 2015. Any student who has not withdrawn from the class after this
date will receive a letter grade!
XVIII. COMMUNICATING WITH THE INSTRUCTOR
The instructor’s contact information is listed above. You may contact me by phone, in
person or email. Whenever contacting the instructor using email, be sure to place your
full name in the subject line along with your class number and section. Contact by email
is limited over the weekend and evenings.
XIX. STUDENT EMAIL
Please note: Effective Summer 2011, all students will be responsible for checking their
IVCC email. All electronic college correspondence will only be sent to the IVCC email. For
information
on
accessing
this
account,
go
to
http://www.ivcc.edu/studenthelpdesk.aspx?id=16712.”
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XX. ON-LINE REQUIREMENTS
BLACKBOARD
I will enroll you in Blackboard based on the class roster. While the use of Blackboard is
optional unless stated as otherwise for this class, I will provide and make available to you
certain materials, communication, grades, and course documents, through Blackboard.
Please be sure to check Blackboard often for announcements from me concerning
important information for this class. Also, please make sure to verify that your student
email account is working. Important announcements may also be emailed to you
through Blackboard. It is the student’s responsibility to insure that their student email is
correct and working properly.
CONNECT
All homework (with the exception of the chapter mentioned above), quizzes, and
comprehensive problems will be completed using the on-line learning platform CONNECT
offered through the publisher. It is your responsibility to register and monitor your use
of this online system. For any problems with the CONNECT system please contact
CONNECT TECHNICAL SUPPORT! Your instructor cannot trouble shoot problems with
their system or program! You may contact technical support through their contact link
in your course home page or you may contact them by phone at 1-800-331-5094.
TECHNICAL ASSISTANCE - IVCC
The center provides individualized academic assistance to all students utilizing computer
technology. The Help Desk Support Staff provides assistance to students in person, on
the phone, and via e-mail.
Phone:
Location:
Email:
Web Page:
Contact Person:
815-224-0318
D201
crc@ivcc.edu
http://www.ivcc.edu/crc
Michelle Story - Michelle_Story@ivcc.edu
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If you need assistance with communication tools or software issues, contact our staff. If
you are having trouble with your computer, you will need to contact the manufacturer or
the store where you bought it. If you are having trouble with your Internet connection,
you should contact your Internet Services Provider (ISP).
In case you are having difficulty logging into Blackboard or accessing your student email,
IVCC has set up a “Known Technical Issues” Page for your convenience. This page is
located at http://www.ivcc.edu/its/students/KnownIssues.html.
Please call 224-0555 as soon as you detect a problem during regular campus hours.
NETIQUETTE
In the virtual classroom, you communicate with your classmates and Instructor primarily
in writing through the public course bulletin board, e-mail, and sometimes chat sessions.
“Online manners” are generally known as “netiquette”. As a general rule, you should
adhere to the same classroom conduct that you would “off-line” in a face-to-face course.
Some examples of proper netiquette are:
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Avoid writing messages in all capital letters. THIS IS GENERALLY
UNDERSTOOD AS SHOUTING.
Be careful what you put in writing. Even if you are writing an e-mail
message to one person, assume that anyone could read it. Though you
may send an e-mail to a single person, it is very easy to forward your
message to hundreds or thousands of people.
Students use of grammar and spelling matter in all classrooms whether
face-to-face or online.
Never use profanity in any area of an online course. The transcripts of
online course bulletin boards, email, and chat sessions are savable.
When responding to messages, only use “Reply to All” when you really
intend to reply to all.
Avoid unkindly public criticism of others. Publicly criticizing others in an
inappropriate way is known as “flaming”.
Use sarcasm cautiously, In the absence of nonverbal cues such as facial
expressions and voice inflections, the context for your sarcasm may be
lost, and your message may thus be misinterpreted.
In a face-to-face setting, our tone and facial expressions may convey as much of our
meaning as the words we use. In a written message, the subtext of your meaning may be
confused or misinterpreted. Please do not use Internet slang abbreviations (e.g., “lol”,
“brb”, etc.). Not everyone may understand.
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Source: How to Succeed in an Online Course: Study Skills and Survival Tips. 6.2.05
http://www.distancelearning.org/howtosucceed.html
VIRTUAL CLASSROOM
To log in the First Time:
1.
Go to http://blackboard.ivcc.edu
2.
Follow the instructions.
3.
Do Not Forget to Change Your Password once you have logged in
successfully!
FINAL SPECIAL NOTE:
As stated earlier, it is the student’s responsibility to initiate in a withdrawal from this
class. The final date for withdraw is November 4, 2015. Anyone remaining after that
date will receive a letter grade according to the point structure listed above.
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XXI. ASSIGNEMENTS AND DUE DATES
DUE DATE
CHP
PROBLEM
LS
TAX
RET
EXAM
DELIVERY
DAY
DATE
TIME
METHOD
AUGUST
1
34,35,39,40,44,47,48,51,52,53,54,60
LS 1
SUN
08/23/15
11:59PM
CONNECT
2
44,45,46,47,48,50,52,53,54,55,58,59
LS 2
WED
08/26/15
11:59PM
CONNECT
3
38,39,40,41,42,43,44,45,51,53,57,58
LS 3
MON
08/31/15
11:59PM
CONNECT
LS 4
MON
09/07/15
11:59PM
CONNECT
THU
09/10/15
8:00 AM
PAPER
SEPTEMBER
4
26,29,31,33,35,36,43,44,45,46,47,49
EX 1 - CHP 1, 2, 3, 4
5
46,48,51,55,56,57,60,61,64,67,68,71
LS 5
WED
09/16/15
11:59PM
CONNECT
6
36,38, 40,41,44,50,51,52,54,58,60,63
LS 6
WED
09/23/15
11:59PM
CONNECT
7
32,33,34,38,40,43,44,49,52,56,57,61
LS 7
WED
09/30/15
11:59PM
CONNECT
LS 8
WED
10/07/15
11:59PM
CONNECT
TUE
10/13/15
8:00 AM
PAPER
MON
10/19/15
11:59PM
CONNECT
OCTOBER
8
50,53,54,57,66,69,72,73,75,76,80,83
EX 2 - CHP 5, 6, 7. 8
9
46,47,48,49,51,54,57,61,65,70,72,76
LS 9
#4
10
41,43,46,48,52,53,57,60,62,66,71,73
LS10
WED
10/28/15
11:59PM
CONNECT
LS11
MON
11/09/15
11:59PM
CONNECT
TUE
11/12/15
8:00 AM
PAPER
MON
11/18/15
11:5 PM
CONNECT
#5
MON
11/30/15
11:59PM
CONNECT
TBD
THU
12/03/15
8:00 AM
PAPER
MON
12/07/15
11:59PM
CONNECT
THU
12/10/15
8:00 AM
PAPER
NOVEMBER
11
32,39,40,41,43,45,46,48,56,60,62,67
EX 3 - CHP 9, 10, 11
12
25,27,28,31,32,35,37,40,42,44,45,49
LS12
13
50,53,58,61,63,64,67,69,70,73,78,81
LS13
DECEMBER
COMPREHENSIVE TAX RETURN
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38,44,46,49,51,55,57,58,60,63,66,69
LS14
EX 4 - CHP 12, 13, 14
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XXII. CLASS SCHEDULE
Class
WEEK
1
2
Meeting
#
1
2
3
4
Day
Tuesday
Thursday
Tuesday
Thursday
Date
Lecture
Chapter
08/18/15
08/20/15
08/25/15
08/27/15
CH 1
CH 2
CH 3
CH 3
Exam
AUGUST
Other
SEPTEMBER
3
4
5
6
7
5
6
7
8
9
10
11
12
13
Tuesday
Thursday
Tuesday
Thursday
Tuesday
Thursday
Tuesday
Thursday
Tuesday
09/01/15
09/03/15
09/08/15
09/10/15
09/15/15
09/17/15
09/22/15
09/24/15
09/29/15
CH 4
CH 4
CH 5
EXAM 1
CH 5
CH 6
CH 6
CH 7
CH 7
OCTOBER
8
9
10
11
14
15
16
17
18
19
20
21
22
Thursday
Tuesday
Thursday
Tuesday
Thursday
Tuesday
Thursday
Tuesday
Thursday
10/01/15
10/06/15
10/08/15
10/13/15
10/15/15
10/20/15
10/22/15
10/27/15
10/29/15
CH 8
CH 8
CH 9
EXAM 2
CH 9
CH 10
CH 10
CH 10
CH 11
NOVEMBER
12
13
14
15
23
24
25
26
27
28
29
Tuesday
Wednesday
Thursday
Tuesday
Thursday
Tuesday
Thursday
Tuesday
Thursday
11/03/15
11/04/15
11/05/15
11/10/15
11/12/15
11/17/15
11/19/15
11/24/15
11/26/15
OPEN
LAST DAY FOR WITHDRAW
CH 11
CH 12
EXAM 3
CH 12
CH 13
CH 13
THANKSGIVING BREAK - COLLEGE CLOSED
DECEMBER
16
17
30
31
32
Tuesday
Thursday
Thursday
12/01/15
12/03/15
12/10/15
CH 14
CH 14
EXAM 4
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