UNIVERSITY OF DELAWARE ACCOUNTING 614 ADVANCED FEDERAL TAXATION FALL 2016

Transcription

1 UNIVERSITY OF DELAWARE ACCOUNTING 614 ADVANCED FEDERAL TAXATION FALL 2016 Instructor: Office: Dr. Brian Greenstein 222 Purnell Hall Phones: Office: (302) Cell (610) Office Hours: Class Hours: Required Texts: Monday and Wednesday: 1:30 3:30 pm Monday: 5:00 6:00 pm or by appointment. Monday and Wednesday 3:35 pm 4:45 pm One South Main 221 Corporations, Partnerships, Estates and Trusts South-Western Federal Taxation Hoffman, et al. Cengage Publishing ISBN10:

2 Grading: Your grade for the course will consist of the following items: Midterm I 100 Midterm II 100 Midterm III 100 Homework 50 Tax Return Projects 50 Total points 400 Grading Scale: A A B# B B C# C C D Below 60 F Exams: There will be three examinations which will be a combination of multiple choice, short answer/essays, and comprehensive problems. We will discuss the format of each exam (breakout of multiple choice, short answer, problems, essays, etc.) during the class period prior to the exam date. Electively students dissatisfied with their scores on the first three examinations may take a comprehensive final exam to raise their grade. The dates for the exams are included on the class schedule on the last page of this syllabus. NO MAKE-UP EXAMINATIONS WILL BE GIVEN Attendance: Attendance is your choice, but your presence will significantly help you learn the material and enable you to perform well on homework, tests, and quizzes. If you miss a class, please be sure to review the material on UD Capture.

3 Competencies: This course will help students develop critical thinking skills by applying tax laws to various factual situations, some of which will have uncertain solutions due to the structural ambiguity of the statutory language of the Internal Revenue Code. Two tax return projects will reinforce the differential treatment of Flow-Through Entities and taxable Corporations. Course Objective: To provide students with an overview of the federal income tax treatment accorded to affecting individual taxpayers who either reside in, or are citizens of, the United States. Course Overview: This course will provide students with an overview of the federal income tax structure as it applies to business taxpayers. Topics covered include the gross income, exclusions, business deductions, flow-through versus taxable entities and a survey of the taxation of fiduciary entities. The ethics of tax practice including differentiating between the minimization of tax liabilities through tax avoidance versus tax evasion will be directly addressed. Assignments: Homework assignments will be posted in Sakai. CengageNow will be used for online homework problems and assessment quizzes (part of the homework)

4 Statement of Ethics and Scholastic Honesty: The accounting profession has a long-established reputation for its high level of ethical conduct. This reputation reaches into the academic arena where the profession's future leaders are being prepared. It follows that accounting students are expected to conduct themselves in a manner which is above reproach in their own course-related activities. Academic dishonesty will not be tolerated in accounting courses. Such actions include, but are not limited to, copying, sharing or obtaining information from any unauthorized source during projects, examinations, or quizzes; copying from or unauthorized sharing of homework assignments with another student; failing to properly cite sources; attempting to take credit for the intellectual creation of another person as one's own work; falsifying information; giving or receiving information about a test, quiz or assignment solutions to students in other sections of the course. You are expected to be familiar with the University's Policy on Academic Dishonesty found in the Official Student Handbook. Copies may be obtained in the Student Information Center, located in the Student Center, or in the Dean of Students' Office, Room 218 Hullihen Hall. The content of the Handbook applies to this course. For a complete explanation, refer to the Student Guide to Policies. Any student involved in academic dishonesty will automatically receive a zero for the assignment or exam, may be failed from the course and will be reported to the Dean s office. Classroom Conduct: All cell phones should be turned off prior to class; texting during the class is not permitted. Cell phones are not permitted to be out at any time during any of the exams and will be considered a cheating infraction. Exam calculators must be non-programmable basic units capable of adding, subtracting, multiplying and dividing. No time value of money calculations will be required.

5 CLASS SCHEDULE Class Meeting August 31, 2016 September 5, 2016 September 7, 2016 September 12, 2016 September 14, 2016 September 19, 2016 September 21, 2016 September 26, 2016 September 28, 2016 October 3, 2016 October 5, 2016 October 10, 2016 October 12, 2016 October 17, 2016 October 19, 2016 October 24, 2016 October 26, 2016 October 31, 2016 November 2, 2016 Topic Introduction/Syllabus No Class - Labor Day Chapter Two Chapter Two Chapter Two Chapter Three Chapter Three Chapter Four Chapter Four Exam 1 (Rosh Hashanah) Chapter Five Chapter Five No Class Yom Kippur Chapter Five/Six Chapter Six Chapter Six Chapter Ten Chapter Ten Chapter Ten November 7, 2016 Exam 2 November 9, 2016 Chapter Eleven

6 November 14, 2016 November 16, 2016 November 21 and 23 November 28, 2016 November 30, 2016 December 5, 2016 December 7, 2016 Comprehensive Final Chapter Eleven Chapter Twelve Thanksgiving Break Chapter Twelve Chapter Twelve Tax Returns Projects Due Exam III TBA