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AC 309A Income Tax Practicum
Wuellner, Paul


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.

Course

AC 309 Income Tax Practicum

Semester

SP 2007 HO

Faculty

Wuellner, Paul

Title

Associate Professor of Accounting

Degrees/Certificates

BS
MA
CPA

Office Location

MC27

Daytime Phone

(816) 741-2000  ext6304

E-Mail

pwuell@mail.park.edu

Class Days

U------

Class Time

12:30 - 8:30 PM

Credit Hours

2


Additional Resources:

McAfee Memorial Library - Online information, links, electronic databases and the Online catalog. Contact the library for further assistance via email or at 800-270-4347.
Career Counseling - The Career Development Center (CDC) provides services for all stages of career development.  The mission of the CDC is to provide the career planning tools to ensure a lifetime of career success.
Park Helpdesk - If you have forgotten your OPEN ID or Password, or need assistance with your PirateMail account, please email helpdesk@park.edu or call 800-927-3024
Resources for Current Students - A great place to look for all kinds of information http://www.park.edu/Current/.


Course Description:
Under supervision, students prepare federal, state and city income tax returns. Students must either be enrolled or have previously completed AC309 or equivalent and CS140. This course may be repeated for one-hour additional credit each time repeated. PREREQUISITE: Consent of Instructor. 2:30:2

Learning Outcomes:
  Core Learning Outcomes

  1. Prepare Federal, state and city income tax returns for clients.
  2. Treat clients in a respectful and professional manner.
  3. Prepare working papers and schedules to support income tax returns.
  4. Use computer software to plan and report tax information.
  5. Organize and compile client-prepared data.
  6. Pass a written comprehensive examination on individual income tax law.


Core Assessment:
The test examines each learning outcome with 20 questions. Eighteen multiple-choice questions will be based upon a distribution of critical thinking concepts applied to a learning outcome. Two questions will examine a communication/writing component. Each question will be weighted as 5 points. 

Link to Class Rubric

Class Assessment:

Each student prepares income tax returns for taxpayers.  The "Tax Booth" will be located at Park University, will start Sunday, March 6, 2005, and will operate each Sunday through April 10 except for Easter March 27.  It
will be open from 12:45 PM until 7:45 PM.
 
To participate, a person must pass a test.  In addition, each student must know how to use BNA software to prepare federal, state and city income tax returns.

Grading:

Grades will be based on the following:
1.  Number of hours worked.
2.  Number of tax returns prepared.
3.  Quality of tax returns prepared.
4.  Ability to assist taxpayers in a professional manner.
 
ASSIGNMENT SCHEDULE
03/04/07                     Training Day
03/11/07                     Tax Booth #1                                             
03/18/07                     Tax Booth #2                                             
03/25/07                     Tax Booth #3                                             
04/01/07                     Tax Booth #4
04/15/07                     Tax Booth #5
 
NOTES
1.  Location and Time:
    a.  Park University                
    b.  Telephone  741-2000 extension 6304.
    b.  Mackay Hall Room 25 (computer lab).
    c.  Every Sunday (except Easter) 12:45PM - 7:45PM.
    d.  Start March 6 and end April 10.


2.  Free Program
    a.  "Total Income" must be less than $25,000.
    b.  We prepare federal, state and city individual tax returns.
    d.  Do not sign returns.

 
3.  Process
    a.  Clients sign in.
    b.  Clients are served on a first-come, first-served basis.
    c.  Return is prepared on the computer using BNA software.
    d.  A designated student reviewer reviews return.
    e.  Client signs return and W2s are attached.
    f.  Paul Wuellner reviews return.
    g. Original return and a photocopy are returned to client.      Stamp "YOUR COPY" on the photocopy.
    h. Give the client appropriate mailing envelopes.
    i.  Erase file from disk.


4.  Volunteers
    a.  Sign in.
    b.  Prepare a "REVIEW SHEET" sheet for each return.
    c.  Give review sheets to Paul Wuellner at the end of each day.
    d.  Sign out.


5.  Miscellaneous
    a.  Quality, Quality, Quality!
    b.  Frustration level- keep your cool.
    c.  Bring your own supplies (pencil, eraser, ruler, stapler, etc).
    d.  Photocopier will be on-site.
    e.  Do not put phone number on any return.


6.  Preparation Process

    PREPARERS
    a.  Review last year?s return and ask client if anything has changed.
    b.  Get the "Big Picture" before you start putting numbers on return.
    c.  Create the taxpayer in BNA database.
    d.  Open Form 1040 in BNA and open other forms as needed.
    e.  Start at the top of federal form and slowly move downward.
    f.   All information on return must be supported by evidence. For example: W2, 1099-int, receipt, client's
          representation, etc.
    g.  All calculations must be scheduled.  These will be reviewed and
        given to the client to support the return in case of audit.
    h.  Schedule Format:
        1.   Client Name                                   SSN
             Tax Year and Form Number
        2.   Tax Form Page Number, Line Number, and Line Words
             List of Information
    i.  If you have questions, try to answer them yourself before seeking
        help from a student reviewer or Paul Wuellner.  
    j.  Reconcile last year?s return with the current year?s return.
    k.  DO NOT GUESS: seek help if you are unsure on any tax question.
    l.  KCMO Return: always check eligibility and proper withholding.

    REVIEWERS
    a.  Trace each number on return to a document and vice versa.
    b.  Foot all numbers on return and supporting schedules.
    c.  Verify name, address and SSN are correct.
    d.  Verify filing status is correct.
    e.  Reconcile last year?s return with the current year?s return.
    f.  Always check eligibility for:
                1.  Earned Income Credit.
                2.  Elderly credit: Federal and state.
                3.  Child care credit.
    g.  Indicate how many W2s should be attached to the return.
    h.  Make review notes indicating questions, errors, etc.
     i.  Be thorough and don't be intimidated or hurried.

All final exams will be comprehensive and will be closed book and closed notes.  If calculators are allowed, they will not be multifunctional electronic devices that include features such as: phones, cameras, instant messaging, pagers, and so forth.  Electronic Computers will not be allowed on final exams unless an exception is made by the Associate Dean.

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 2006-2007 Undergraduate Catalog Page 87-89

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 2006-2007 Undergraduate Catalog Page 87

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 "W".
  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 2006-2007 Undergraduate Catalog Page 89-90

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. 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 .



Rubric

CompetencyExceeds Expectation (3)Meets Expectation (2)Does Not Meet Expectation (1)No Evidence (0)
Evaluate and define accounting concepts identified by:                                                                                                                                                                                                     
Outcomes
2,3,4,5,6                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
Evaluate and define the financial transaction(s) in order to record, adjust or correct per the Internal Revenue Service Code
Q1, Q4, Q8, Q12, Q15
100-80 %
 
Evaluate and define the financial transaction(s) in order to record, adjust or correct per the Internal Revenue Service Code
Q1, Q4, Q8, Q12, Q15
60-79%
 
Evaluate and define the financial transaction(s) in order to record, adjust or correct per the Internal Revenue Service Code
Q1, Q4, Q8, Q12, Q15
50-59%
 
Evaluate and define the financial transaction(s) in order to record, adjust or correct per the Internal Revenue Service Code
Q1, Q4, Q8, Q12, Q15
Less than 50%
 
Synthesize data to produce a logical flow of informational reporting  per established accounting rules and standards,Synthesis                                                                                                                             
Outcomes
2,3,4,5,6,                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
Assemble the correct and ethical tax treatment for given transactions in order to prepare accurate tax returns per the Internal Revenue Service Code
Q3, Q6, Q7, Q11, Q14
100-80 %
Assemble the correct and ethical tax treatment for given transactions in order to prepare accurate tax returns per the Internal Revenue Service Code
Q3, Q6, Q7, Q11, Q14
60-79%
Assemble the correct and ethical tax treatment for given transactions in order to prepare accurate tax returns per the Internal Revenue Service Code
Q3, Q6, Q7, Q11, Q14
50-59%
Assemble the correct and ethical tax treatment for given transactions in order to prepare accurate tax returns per the Internal Revenue Service Code
Q3, Q6, Q7, Q11, Q14
Less than 50%
Analysis,Analysis of transactional data                                                                                                                                                                                                                    
Outcomes
,2,3,4,5,6                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
,Analyze financial transactions recorded in the book of original entry and adjust, record or post to prepare accurate tax returns per the Internal Revenue Service Code
Q2, Q5, Q9, Q10, Q13
100-80 %
 
,Analyze financial transactions recorded in the book of original entry and adjust, record or post to prepare accurate tax returns per the Internal Revenue Service Code
Q2, Q5, Q9, Q10, Q13
60-79%
 
,Analyze financial transactions recorded in the book of original entry and adjust, record or post to prepare accurate tax returns per the Internal Revenue Service Code
Q2, Q5, Q9, Q10, Q13
50-59%
 
,Analyze financial transactions recorded in the book of original entry and adjust, record or post to prepare accurate tax returns per the Internal Revenue Service Code
Q2, Q5, Q9, Q10, Q13
Less than 50%
 
Application of established rules and logic per regulatory and commercial standards,Evaluation                                                                                                                                                              
Outcomes
1,                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
Demonstrate and interpret financial data for preparing
individual income tax returns in order to comply with the Internal Revenue Service Code
Q16, Q17, Q18
100-80 %
Demonstrate and interpret financial data for preparing individual income tax returns in order to comply with the Internal Revenue Service Code
Q16, Q17, Q18
60-79%
Demonstrate and interpret financial data for preparing individual income tax returns in order to comply with the Internal Revenue Service Code
Q16, Q17, Q18
50-59%
Demonstrate and interpret financial data for preparing individual income tax returns in order to comply with the Internal Revenue Service Code
Q16, Q17, Q18
Less than 50%
Terminology,Content of Communication written essay                                                                                                                                                                                                         
Outcomes
,1                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
,Assess the student's ability to understand and communicate/ write the reasoning for knowledge acquired through out the course as it relates to
preparing individual income tax returns
Question 20
100-80 %
 
,Assess the student's ability to understand and communicate/ write the reasoning for knowledge acquired through out the course as it relates to preparing individual income tax returns
Question 20
60-79%
 
,Assess the student's ability to understand and communicate/ write the reasoning for knowledge acquired through out the course as it relates to preparing individual income tax returns
Question 20
50-59%
 
,Assess the student's ability to understand and communicate/ write the reasoning for knowledge acquired through out the course as it relates to preparing individual income tax returns
Question 20
Less than 50%
 
Technical Skill in Communicating written essay,Concepts                                                                                                                                                                                                    
Outcomes
4,                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
Demonstrate the knowledge and skill to evaluate, apply and discuss tax solutions
Question 19
100-80 %
Demonstrate the knowledge and skill to evaluate, apply and discuss tax solutions
Question 19
60-79%
Demonstrate the knowledge and skill to evaluate, apply and discuss tax solutions
Question 19
50-59%
Demonstrate the knowledge and skill to evaluate, apply and discuss tax solutions
Question 19
Less than 50%
Application,First Literacy Technical knowledge and application                                                                                                                                                                                             
Outcomes
,                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
,Student will demonstrate a knowledge of individual taxation within the scope of AC 309 to assist them in performing their job functions or enhancing their accounting and tax knowledge
Overall Score
100-80 %
 
,Student will demonstrate a knowledge of individual taxation within the scope of AC 309 to assist them in performing their job functions or enhancing their accounting and tax knowledge
Overall Score
60-79%
 
,Student will demonstrate a knowledge of individual taxation within the scope of AC 309 to assist them in performing their job functions or enhancing their accounting and tax knowledge
Overall Score
50-59%
 
,Student will demonstrate a knowledge of individual taxation within the scope of AC 309 to assist them in performing their job functions or enhancing their accounting and tax knowledge
Overall Score
Less than 50%
 
Second Literacy Transcendence of applied learning,Whole Artifact                                                                                                                                                                                           
Outcomes
,                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Student will demonstrate a knowledge of individual taxation to be successful citizens, employees or world leaders as they better understand the economic/ monetary drivers of the contemporary world we live in
Overall Score
100-80 %
Student will demonstrate a knowledge of individual taxation to be successful citizens, employees or world leaders as they better understand the economic/ monetary drivers of the contemporary world we live in
Overall Score
60-79%
Student will demonstrate a knowledge of individual taxation to be successful citizens, employees or world leaders as they better understand the economic/ monetary drivers of the contemporary world we live in
Overall Score
50-59%
Student will demonstrate a knowledge of individual taxation to be successful citizens, employees or world leaders as they better understand the economic/ monetary drivers of the contemporary world we live in
Overall Score
Less than 50%
Component                                                                                                                                                                                                                                                  
Outcomes
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
    

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Last Updated:2/15/2007 10:57:27 AM