Syllabus Entrance
Printer Friendly
Email Syllabus

AC 309 Individual Income Tax
Kotwitz, Shaun


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 Individual Income Tax

Semester

F2J 2007 PV

Faculty

Kotwitz, Shaun

Degrees/Certificates

C.P.A.

Daytime Phone

(816) 329-8788

E-Mail

kotwitz@mail.park.edu

Semester Dates

October 22, 2007 – December 16, 2007

Class Days

--T----

Class Time

5:30 - 9:50 PM

Prerequisites

AC201 (Principles of Accounting I) and CS 140 (Introduction to Computers)

Credit Hours

3


Textbook:
Hoffman, Smith, & Willis, West Federal Taxation Individual Income Taxes, 2008 Edition, South-Western.

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:
A study of the current Federal Income Tax law with emphasis on its application to individuals as part of a cooperative effort with the Internal Revenue Service.

Educational Philosophy:
To foster a learning environment that enables the learner to realize his/her greatest potential.  Specifically, this class teaches the learner to think critically; to communicate clearly; and to take ownership for his/her learning.

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:

Exams: Three exams will be given during this course.  Students will be notified in advance of changes in the material tested.  Material from the class discussions, in-class problems, homework problems, and tax problem will be covered in the exams.  Exams will include multiple choice questions typically requiring calculations to support answers, tax return type questions, problems, and short answer questions that require application of course learning objectives.

Tax Return Problem:  The tax return problem will require completion of Form 1040 along with several schedules (e.g., Schedule A (Itemized Deductions); Schedule D (Capital Gains / Losses); etc.) for one family.  In addition to the exams, the tax return problem serves as an assessment tool to ensure that the student has mastered all course learning objectives through application of this knowledge.  Details related to the tax return problem will be given four class periods before it is due. 

Homework Problems:  Homework problems will be assigned on material covered.  The problems to be completed will be assigned during the class period that the related chapter is discussed.  The homework problems will be due on the exam due dates (Exams 1 & 2) or on the day of the exam before taking the exam (Final).  Homework problems submitted after this date will not be accepted.  Students should proactively make alternative arrangements to forward homework to the instructor, if necessary.  The in-class problems will be discussed in class but will not count directly in the student’s final grades; though, this material will be covered on the exams.

Attendance/Class Participation: Attendance will be taken at the beginning of each class period.  Students are expected to attend class and to participate in class discussions.  Attendance/Class Participation will be worth 10 points of each student’s final grade and will be earned according to the following schedule:

                        Present less than six times…………..0 Points

                        Present six times…………………….5 Points

                        Present seven or more times……….10 Points

Grading:

  Final Grades will be determined based upon the following:

 

 

Points

%

Exam 1 (1, 3, 4, & 5)

140

20.0

Exam 2 (6, 7, 8, & 9)

150

21.5

Exam 3 (10, 14, 15, & 16)

150

21.5

Tax Return Problem

100

14.3

Homework Problems #1 (1, 3, 4, & 5)

50

7.1

Homework Problems #2 (6, 7, 8, & 9)

50

7.1

Homework Problems #3 (10, 14, 15, & 16)

50

7.1

Attendance/Class Participation

10

1.4

Total

700

100.0

 

Grades will be computed using the following scale, although I reserve the right to make adjustments:

                       

Grade

Percentages

Points

A

90 – 100%

630 - 700

B

80 – 89%

560 - 629

C

70 – 79%

490 – 559

D

60 – 69%

420 – 489

F

Less than 60%

Below 420

 

The course grade for students will be based on the overall average of homework and tests taken during the course in accordance with the weighting of the various requirements as stated in the syllabus.

All final exams in all School of Business and Management courses will be comprehensive and will be closed book and closed notes. They will constitute 30% of the total course grade and will not be a take-home exam. They will be completed during the test week in the period designated by the registrar or by the Proctor in the case online courses. 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 Dean of the School of Business and Management.

Late Submission of Course Materials:
If a student submits an assignment after a scheduled deadline, he/she will not receive credit for the assignment.

Classroom Rules of Conduct:

The classroom rules of conduct include the following:  1. Respect the instructor’s decisions/requirements; 2. Respect other learners; 3.  Participate in classroom discussions/exercises; 4. Take ownership and complete assignments by given deadlines; 5. Notify instructor of any possible absences or missed deadlines; & 6. Any other rules that come up during the course of the semester. 

Course Topic/Dates/Assignments:
 

Week

Date

Subject Read Assignment Due

1

10/23

Introduction to Taxation

Tax Determination

Chapter 1

Chapter 3

2

10/30

Gross Income Concepts & Inclusions

Gross Income Exclusions

Chapter 4

Chapter 5

3

11/6

Gross Income Exclusions

Deductions & Losses: In General

Distribute Exam 1 (1, 3, 4, & 5)

Chapter 5

Chapter 6

 

4

11/13

Deductions & Losses: Certain Business Exps. & Losses

Depreciation, Cost Recovery, Amortization, & Depletion

Explanation of Tax Return Problem

Chapter 7

Chapter 8

Exam 1

Homework #1

5

11/20

Depreciation, Cost Recovery, Amortization, & Depletion

Deductions: Employee Expenses

Distribute Exam 2 (6, 7, 8, & 9)

Chapter 8

Chapter 9

6

11/27

Deductions & Losses: Certain Itemized Deductions

Property Transactions: Determination of Gain or Loss & Basis Considerations

Chapter 10

Chapter 14

Exam 2

Homework #2

7

12/4

Property Transactions: Nontaxable Exchanges (sale of a residence only)

Property Transactions: Capital Gains & Losses

Review for Exam 3

Chapter 15

Chapter 16

 

8

12/11

Exam 3 (10, 14, 15, & 16)

Tax Return Prob.  

Homework #3

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 2007-2008 Undergraduate Catalog Page 85-86

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 2007-2008 Undergraduate Catalog Page 85

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.
  3. Work missed through unexcused absences must also be made up within the semester/term of enrollment, but unexcused absences may carry further penalties.
  4. 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 "F".
  5. A "Contract for Incomplete" will not be issued to a student who has unexcused or excessive absences recorded for a course.
  6. 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.
  7. 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 2007-2008 Undergraduate Catalog Page 87-88

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
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
    

Copyright:

This material is protected by copyright and can not be reused without author permission.

Last Updated:9/17/2007 12:38:45 AM