Syllabus Entrance
Printer Friendly
Email Syllabus

AC 312 Business Income Tax
Lang, Charles M.


Mission Statement: The mission of Park University, an entrepreneurial institution of learning, is to provide access to academic excellence, which will prepare learners to think critically, communicate effectively and engage in lifelong learning while serving a global community. Vision Statement: Park University will be a renowned international leader in providing innovative educational opportunities for learners within the global society.
CourseAC 312 Business Income Tax SemesterS1A2005 FacultyLang, Charles M. TitleAdjunct Instructor
Degrees/CertificatesBachelor's of the Arts, Antioch College Master's of Business Administration, University of Texas at Austin Office LocationAustin Campus Center, Avallon II, Suite 100, 10415 Morado Circle Austin, Texas 78759 Office HoursTBD Daytime Phone(512) 220-5245 E-Mailcharles.lang@pirate.park.edu chasmlang@hotmail.com Web PageTBA Semester Dates06/06/05-07/31/05 Class Days-TBD--- Class Time8:00 - 9:00 PM PerquisitesAC309, AC320 and CS140, or equivalents Credit Hours3

Textbook: Prentice Hall's Federal Taxation - 2005 - Corporations, Partnerships and Trusts, ed. Textbooks can be purchased though the MBS bookstore Course Description: This course is an independent study of the structure of current federal income tax law. Emphasis is on tax research and the problems faced by partnerships and organizations. Educational Philosophy: The instructor believes that every course a student takes should be building or adding to an understanding of that student's professional and/or intellectual framework. In each course the focus should be on enhancing each of those frameworks. The question should constantly be posed as to how the student will be able to apply what he is learning to his everyday work and how the material being covered furthers the student's understanding of that profession and of the world in general. Learning Outcomes: To provide the student with a perspective on the federal tax system enabling him or her to analyze relevant tax laws and regulations as they apply to common tax situations and to recognize issues requiring further research. Course Assessment: The student will be evaluated based on two examinations, the successful completion of homework assignments and discussion/feedback with the instructor. Grading: Points are allocated as follows: First Exam 40% Second Exam 35% Homework 15% Feedback/discussion 10% ---- Total 100% Late Submission of Course Materials: Every effort should be made to turn in assignments as per the course schedule. However, when circumstances warrant, mork may be accepted late, but might be graded down due to its tardiness. Classroom Rules of Conduct: Students are expected to participate in class discussions. Just as each student would expect others to be attentive and respectful of that student's right to be heard, that student also owes a similar respect and attentiveness to fellow students. Since the main purpose of class is to cover the material, disruptive influences in the classroom will not be tolerated and may be sanctioned. Course Topic/Dates/Assignments: Note: Homework assignments and reading assignments need to be completed prior to coming to the scheduled meeting with the instructor. WEEK ONE Discussion: Organizational meeting and assignments WEEK TWO Reading Assignment: Chapter 1-Tax Research. Homework Assignment: Discussion Questions 1- 3,6,7,9,10,11,14,20 and 32. Problems 1-59 and 61. Subject /Discussion Matter: Tax research(conclusion) and forms of doing business, corporate formation and capital structure. Reading assignment: Chapter 2-Corporate Formations and Capital Structure. Homework Assignment:Issue Identification Questions 2-27,28 and 29 Problems 2-33,44,50 and 51 Subject /Discussion Matter: Corporate formations (conclusion), computing corporation's taxable income, controlled groups and procedural matters. WEEK THREE Reading Assignment: Chapter 3-Corporate Income Tax. Homework Assignment: Problems 3-34,36,40,43,48, 49,53 and 57. Subject /Discussion Matter: Controlled groups/taxation (conclusion) and non-liquidating distributions, stock dividends/redemptions, bailouts and compliance considerations. Reading Assignment:Chapter 4-Corporate Non-liquidating Distributions. Homework Assignment:Issue Identification Question 4-25. Problems 4-29,31,34,45 and 48 Subject /Discussion Matter: Non-liquidating distributions etc.(conclusion) and other corporate tax levies such as AMT, PHC and AE taxes. WEEK FOUR Reading Assignment:Chapter5-Other Corporate Tax Levies.. Homework Assignment: Problems 5-35,36,41,48, 54 and 61. Subject /Discussion Matter: Other levies (conclusion) and liquidating distributions. Reading Assignment: Chapter 6-Corporate Liquidating Distributions. Homework Assignment: Problems: 6-37,41,42,44 and 47 Subject /Discussion Matter: Liquidating distributions (conclusion) and intro.to taxable/tax-free acquisition and Type A reorganizations. WEEK FIVE Reading Assignment: Chapter 7-Corporate Acquisitions and Reorganizations (pp.1-27) Homework Assignment:Issue Identification Question:7-41 Problems: 7-44,45,48 and 50 Subject /Discussion Matter: Type A, C, B and D acquisitive reorganizations. Reading Assignment: Chapter 7-Corporate Acquisitions and Reorganizations (pp.28-45) Homework Assignment:Issue Identification Question:7-39 Problems: 7-53,55,57,59,62 and 69. Subject /Discussion Matter: Reorg'ns (conclusion) and intro to consolidated returns. WEEK SIX Reading Assignment: Chapter 8-Consolidated Tax Returns. Homework Assignment:Problems: 8-34,36,46,48,52 and 54. Subject /Discussion Matter: Consolidated returns (conclusion), introduction to partnership formation and operations and review of Chapters 1-7. TEST I(over chapters 1-7) Tentative Date December 1st. WEEK SEVEN Reading Assignment: Chapter 9-Partnership Formation and Operations Homework Assignment: Problems: 9-26,28,30,32,35,42, 49 and 52 Subject /Discussion Matter: P/ship formation and operations (conclusion) and intro to special partnership issues. Reading Assignment: Chapter 10-Special Partnership Issues. Homework Assignment: Problems 10-26,31,37,41,45,53 and 54. Subject /Discussion Matter: Conclusion of partnership issues and intro to S. Corps. WEEK EIGHT Reading Assignment: Chapter 11-S Corporations. Homework Assignment: Problems: 11-29,30,31,32,34,35, 36,37,45,46 and 51. Subject/Discussion Matter: S. Corps and administrative procedures. Reading Assignment:Chap. 15-Administrative Procedures. Homework Assignment: Issue Identification Questions: 15-33,34 and 35. Problems: 15-36 through 41 and 43 through 61. Tax Strategy Problem: 15-63. Subject/Discussion Matter:Review chapters 8,9,10, 11 and 15. TEST II(Chapters 8, 9, 10, 11 and 15.) Tentative Date December 15th. Academic Honesty: Academic integrity is the foundation of the academic community. Because each student has the primary responsibility for being academically honest, students are advised to read and understand all sections of this policy relating to standards of conduct and academic life. Park University 2004-2005 Undergraduate Catalog Page 101 Plagiarism: Plagiarism involves the use of quotations without quotation marks, the use of quotations without indication of the source, the use of another's idea without acknowledging the source, the submission of a paper, laboratory report, project, or class assignment (any portion of such) prepared by another person, or incorrect paraphrasing. Park University 2004-2005 Undergraduate Catalog Page 101 Attendance Policy: Instructors are required to maintain attendance records and to report absences via the online attendance reporting system.

  1. The instructor may excuse absences for valid reasons, but missed work must be made up within the semester/term of enrollment.
  2. Work missed through unexcused absences must also be made up within the semester/term of enrollment, but unexcused absences may carry further penalties.
  3. In the event of two consecutive weeks of unexcused absences in a semester/term of enrollment, the student will be administratively withdrawn, resulting in a grade of "WH".
  4. A "Contract for Incomplete" will not be issued to a student who has unexcused or excessive absences recorded for a course.
  5. Students receiving Military Tuition Assistance or Veterans Administration educational benefits must not exceed three unexcused absences in the semester/term of enrollment. Excessive absences will be reported to the appropriate agency and may result in a monetary penalty to the student.
  6. Report of a "F" grade (attendance or academic) resulting from excessive absence for those students who are receiving financial assistance from agencies not mentioned in item 5 above will be reported to the appropriate agency.
Park University 2004-2005 Undergraduate Catalog Page 100

Disability Guidelines: Park University is committed to meeting the needs of all students that meet the criteria for special assistance. These guidelines are designed to supply directions to students concerning the information necessary to accomplish this goal. It is Park University's policy to comply fully with federal and state law, including Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990, regarding students with disabilities. In the case of any inconsistency between these guidelines and federal and/or state law, the provisions of the law will apply. Park University is committed to meeting the needs of all learners that meet the criteria for special assistance. These guidelines are designed to supply directions to learners concerning the information necessary to accomplish this goal. It is Park University's policy to comply fully with federal and state law, including Section 504 of the Rehabilitation Act of 1973 and the American with Disabilities Act of 1990, regarding learners with disabilities and, to the extent of any inconsistency between these guidelines and federal and/or state law, the provisions of the law will apply. Additional information concerning Park University's policies and procedures related to disability can be found on the Park University web page: http://www.park.edu/disability . Copyright: This material is copyright and can not be reused without author permission.