ACCT 321 - Income Tax I

Credits: 3
When Offered: Fall, odd years
Prerequisite(s): ACCT 212, ENGL 101, ENGL 102 and COMM 105 or ENGL 101H and ENGL 102 with a minimum grade of “C.”

This course provides a comprehensive coverage of the fundamental concepts in federal income taxation with an emphasis on individual taxation. Topics include the statutory basis of tax law, determination of income, deductions, losses, credits and tax liability and property transactions. The Internal Revenue Code and Treasury Regulations are an integral part of this course.

Note: First semester of a two-semester sequence. This course is a prerequisite to that of the second semester course. Credit may be received for the work of this course without the completion of the second.