Fed Income Taxatn: Individuals

3 Credits · Level: Undergraduate

This course introduces the U.S. income tax laws, regulations, and procedures pertaining to individual income taxpayers. The course provides a foundation in areas including the concept of income and exclusions from income, adjustments to income, itemized deductions, tax credits, capital gains and losses, like-kind exchanges of qualifying property, sale of residence rules, and tax ethics. An essential component of the course examines how the U.S. government uses tax laws to implement social policy. The skills acquired in the class will be taught through real-world examples and continuous reference to the current tax forms and schedules.