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ACC 211 Tax Accounting I

This course introduces students to the fundamentals of federal income taxation and the process of preparing individual tax returns. Students identify sources of taxable income, apply current tax laws to determine deductions, credits, and liabilities, and use tax forms and software to complete returns. Emphasis is placed on understanding tax theory, compliance, and ethical responsibilities in tax preparation.

Credits

3

Prerequisite

Prerequisite: (Test scores or ENG 102 or concurrent) and (MAT 152 or higher) and ACC 101

See Course Syllabus

Course Number and Title:

ACC 211 Tax Accounting I

Campus Location

  • Dover
  • Georgetown
  • Wilmington

Effective Date

202751

Prerequisites

Prerequisite: (Test scores or ENG 102 or concurrent) and (MAT 152 or higher) and ACC 101

Course Credits and Hours

3 credit(s)

3 lecture hours/week

1 lab hours/week

0 offsite lab hours

Course Description

This course introduces students to the fundamentals of federal income taxation and the process of preparing individual tax returns. Students identify sources of taxable income, apply current tax laws to determine deductions, credits, and liabilities, and use tax forms and software to complete returns. Emphasis is placed on understanding tax theory, compliance, and ethical responsibilities in tax preparation.

Additional Materials

None

Required Text(s)

Obtain current textbook information by viewing the campus bookstore - https://www.dtcc.edu/bookstores online or visit a campus bookstore. Check your course schedule for the course number and section.

Disclaimer

None

Core Course Performance Objectives (CCPOs)

  1. Analyze the federal income tax framework, including primary legal authorities, required forms, and filing deadlines. (CCC 1, 2; PGC 1, 2, 5)
  2. Calculate the tax due or refund by classifying items as taxable/nontaxable and deductible/nondeductible. (CCC 1, 2, 6; PGC 2, 5)
  3. Evaluate deduction options to minimize taxable income while ensuring compliance. (CCC 1, 2; PGC 2, 5)
  4. Calculate the allowable tax credits. (CCC 1, 2; PGC 2, 5)
  5. Calculate gains and losses from sales or exchanges of property. (CCC 1, 2, 6; PGC 2, 5)
  6. Complete the appropriate tax forms and schedules that are required in filing an individual federal tax return. (CCC 1, 2; PGC 1, 5)


See Core Curriculum Competencies and Program Graduate Competencies at the end of the syllabus. CCPOs are linked to every competency they develop.

Measurable Performance Objectives (MPOs)

Upon completion of this course, the student will:

  1. Analyze the federal income tax framework, including primary legal authorities, required forms, and filing deadlines.
    1. Identify the statutory, administrative, and judicial sources of federal income tax law.
    2. Locate important tax forms.
    3. Identify key tax dates.
    4. Recommend tax-planning strategies that align with compliance standards and minimize tax liability.
  2. Calculate the tax due or refund by classifying items as taxable/nontaxable and deductible/nondeductible.
    1. Describe the components of the individual tax formula.
    2. Compute tax liability using tax tables and rate schedules..
    3. Discuss the general rules of inclusion and exclusion regarding gross income.
  3. Evaluate deduction options to minimize taxable income while ensuring compliance.
    1. Classify expenses as deductible or nondeductible, incorporating timing (cash/accrual) and substantiation.
    2. Compute deductible losses and net operating losses (NOLs).
    3. Explain differences between tax and financial-accounting depreciation.
    4. Compute MACRS (Modified Accelerated Cost Recovery System) depreciation given correct asset classification, including §179, bonus, and listed-property limits.
    5. Analyze the deductibility of employee and self-employed business expenses, including travel, transportation, meals, and automobile costs.
    6. Compute allowable itemized deductions under statutory limits.
    7. Define tax shelters under the at-risk and passive activity loss rules.
    8. Compute the §199A Qualified Business Income deduction.
  4. Calculate the allowable tax credits.
    1. Calculate the tax benefits from deductions versus credits.
    2. Calculate the allowable amount of common tax credits such as the earned income credit (EIC), child and dependent care credit, and other credits as they became available due to changes in tax law.
    3. Calculate the amounts of allowable credits available to employees, self-employed persons, and investors for timely payment of taxes.
  5. Calculate gains and losses from sales or exchanges of property.
    1. Classify gains and losses as ordinary or capital gains.
    2. Determine adjusted basis in an asset in simple situations.
    3. Determine the amount realized in a sale or exchange.
    4. Calculate the amount and character of gains and losses.
  6. Complete the appropriate tax forms and schedules that are required in filing an individual federal tax return.
    1. Prepare required forms and schedules (Form 1040 and Schedules 1–6, A–E, and SE) accurately based on the taxpayer’s information.
    2. Interpret changes in tax law to determine current filing requirements.

Evaluation Criteria/Policies

The grade will be determined using the Delaware Tech grading system:

90-100 = A
80-89 = B
70-79 = C
0-69 = F
Students should refer to the Catalog/Student Handbook for information on the Academic Standing Policy, the Academic Integrity Policy, Student Rights and Responsibilities, and other policies relevant to their academic progress.

Final Course Grade

Calculated using the following weighted average

Evaluation Measure

Percentage of final grade

Summative Assessments

4 – 6 Exams (Equally weighted)

40%

Comprehensive Tax Project
20%

Formative Assessments

The course will contain various formative assessments including but not limited to:

  • Assignments
  • Activities
  • Quizzes
  • Problems
  • Discussions

40%

TOTAL

100%

Program Graduate Competencies (PGCs are the competencies every graduate will develop specific to his or her major)

  1. Integrate professional, ethical, and legal standards into business decision-making.

  2. Apply foundational business concepts that lead to strategic thinking and the ability to analyze complex problems.

  3. Use professional and technology based skills that are relevant to the dynamic business environment.

  4. Employ effective communication skills and collaboration strategies to promote positive organizational outcomes.

  5. Apply skills necessary to analyze and interpret business and financial data for decision-making purposes.

Core Curriculum Competencies (CCCs are the competencies every graduate will develop)

  1. Apply clear and effective communication skills.
  2. Use critical thinking to solve problems.
  3. Collaborate to achieve a common goal.
  4. Demonstrate professional and ethical conduct.
  5. Use information literacy for effective vocational and/or academic research.
  6. Apply quantitative reasoning and/or scientific inquiry to solve practical problems.

Students in Need of Accommodations Due to a Disability

We value all individuals and provide an inclusive environment that fosters equity and student success. The College is committed to providing reasonable accommodations for students with disabilities. Students are encouraged to schedule an appointment with the campus Disabilities Support Counselor to request an accommodation needed due to a disability. The College's policy on accommodations for persons with disabilities can be found in the College's Guide to Requesting Academic Accommodations and/or Auxiliary Aids Students may also access the Guide and contact information for Disabilities Support Counselors through the Student Resources web page under Disabilities Support Services, or visit the campus Advising Center.

Minimum Technology Requirements

Minimum technology requirements for online, hybrid, video conferencing and web conferencing courses.

Academic Integrity

https://dtcc.smartcatalogiq.com/Current/Catalog/Academics/Academic-Integrity

Attendance

https://dtcc.smartcatalogiq.com/current/catalog/academics/attendance

Cell phone/Electronic Device

https://dtcc.smartcatalogiq.com/Current/Catalog/Student-Policy/Cell-Phone-and-Electronic-Device-Policy

Tuition Adjustment Policy

https://dtcc.smartcatalogiq.com/Current/Catalog/Financial/Tuition-Fee-Adjustment-Policy-Course-or-Semester-Withdrawal