AC 231 Federal Income Tax Law and Practice I
Federal Income Tax introduces basic concepts of the U.S. Tax Law, emphasizes filing requirements for individual taxpayers, gross income inclusions and exclusions, adjustments to income and itemized deductions and credits. Topics dealing with the Internal Revenue Service, the audit process, interest and penalties and methods of minimizing income taxes are also discussed. Tax return preparation, both manually and by computer, is emphasized and practiced.
Prerequisite
ENG 107 and
AC 161; or permission of instructor; for Accounting majors only
Corequisite
Can be taken concurrently with ENG 107 and AC 161