Undergraduate Catalog 2018-2019

ACC 241 Federal Income Taxation I(RNL)

3 hours; 3 credits. A comprehensive study of federal income tax principles and concepts as they apply to individuals. Tax treatment of the individual is stressed initially with emphasis on rates and exemptions, concepts of gross income, recognition and realization of income, and capital gain and loss concepts. Additional topics include exclusions, deductions and credits, analysis of property transactions, federal tax research, preparation of individual federal income tax returns, and computer tax returns. Prerequisites: ACC 121.