ACCT5151: Fundamentals of Federal Income Tax

This course will provide a foundation for understanding and calculating federal income tax liability for both individual and corporate taxpayers. The course will examine the legislative, judicial, and administrative branches of government from the perspective of the federal income tax system. Students will be introduced to the audit process, the Internal Revenue Service, and the tax ethical guidelines for both taxpayers and practitioners. ACCT 5151 and ACCT 5235 replace ACCT 5135 in the accounting major and minor. ACCT 5151 is a required course in the accounting major, and ACCT 5235 is an elective option in the accounting major. Both ACCT 5151 and 5235 are elective options in the accounting minor. If credit is received for ACCT 5135, it cannot be granted for ACCT 5151 or ACCT 5235. prereq: ACCT 2051

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