ACT 411: Taxation

Prerequisite: ACT 212, Junior Standing, Business Majors and Finance Minors only

General Education requirement: 5A & 5B

An examination of federal income taxation with an emphasis on the preparation of individual income tax returns. Topics include the history and structure of the federal tax system, taxable and non-taxable income, deductions, credits, and tax computation methods. Hands-on preparation of Form 1040 and related schedules, including Schedule A and Schedule 1, is incorporated throughout the course using realistic examples, applications, and assignments. Competency in tax research is developed using traditional and electronic sources.