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{\field{\*\fldinst {\lang4105  SEQ CHAPTER \\h \\r 1}}{\fldrslt }}\pard \fs44\qc\tx0\tx504\tx1008\tx1512\tx2016\tx2520\tx3024\tx3528\tx4032\tx4536\tx5040\tx5544\tx6048\tx6552\tx7056\tx7560\tx8064\tx8568\tx9072\tx9576\tx10080\tx10584 
{\plain \fs44 \f1\fs44\lang1033 Intro. to Taxation\par
}{\plain \fs32 \f1\fs32\lang1033 BUS - A328 \'97 Fall 2001}{\plain \fs44 \f1\fs44\lang1033 \par
}{\plain \fs44 \f1\fs44\lang1033 Syllabus}{\plain \fs24 \lang1033 \par
}\pard \fs24\tx0\tx504\tx1008\tx1512\tx2016\tx2520\tx3024\tx3528\tx4032\tx4536\tx5040\tx5544\tx6048\tx6552\tx7056\tx7560\tx8064\tx8568\tx9072\tx9576\tx10080\tx10584
{\plain \fs24 \lang1033 \par
}\fs24\pard \fs24\tqr\tx9360
{\plain \fs24 \lang1033 W. Vetter\ul0 \tab }{\field{\*\fldinst   { HYPERLINK "http://users.ipfw.edu/vetterw" }}{\fldrslt{{\ul\cf2\lang1033 http://users.ipfw.edu/vetterw}}}}{\plain \fs24 \lang1033 \par
}\fs24\pard \fs24\tqr\tx9360
{\plain \fs24 \lang1033 350 Neff\ul0 \tab }{\field{\*\fldinst   { HYPERLINK "mailto:wvvetter@hotmail.com" }}{\fldrslt{{\ul\cf2\lang1033 wvvetter@hotmail.com}}}}{\plain \fs24 \lang1033 \par
}\pard \fs24\tx0\tx504\tx1008\tx1512\tx2016\tx2520\tx3024\tx3528\tx4032\tx4536\tx5040\tx5544\tx6048\tx6552\tx7056\tx7560\tx8064\tx8568\tx9072\tx9576\tx10080\tx10584
{\plain \fs24 \lang1033 \par
}{\plain \fs24 \lang1033 \par
}{\plain \fs24 \b\lang1033 COURSE OBJECTIVES:}{\plain \fs24 \lang1033 \par
}{\plain \fs24 \lang1033 \tab This course in federal taxation is intended to introduce students to the U.S. federal income \softline
tax - and to a lesser extent, to taxes in general. Details of tax law can change daily; significant \softline
changes happen somewhat less frequently. However, the basic structure and underlying concepts \softline
have not changed significantly for the past half-century. Therefore, this course (and the textbook) \softline
highlight concepts and operating principles. Memorizing details of various tax rules will not be \softline
required. However, this is not simply a theory course; it will be necessary to apply tax rules to \softline
real-life situations - both to really understand the concepts and principles and to pass this course.\par
}{\plain \fs24 \lang1033 \tab Taxation is not a stand-alone subject, it requires some understanding of accounting, law, \softline
economics, politics, public financing, and other topics. For the most part, this course concentrates \softline
on tax law but since it deals with things like "income" and "expenses", accounting is also \softline
significant. Accounting students should be careful to distinguish between "tax accounting" and \softline
general accounting. For the most part, those two are the same. But, because of differing purposes \softline
and needs, there are some significant differences. In many instances, the federal income tax code \softline
requires taxpayers to "keep two sets of books"\par
}{\plain \fs24 \lang1033 \tab An introduction to taxation can be challenging and difficult. In the beginning, there is no \softline
obvious starting point; the various statutory and regulatory provisions are all interrelated. An \softline
initially simple question can lead to a multitude of rules, exceptions, qualifications, etc. The goal \softline
of this course is to assist students in building a foundation of basic tax principles and concepts. It \softline
is not possible (or desirable) to address every exception to every, or any, tax rule. The goal is to \softline
provide tax education, not tax training. The fundamental concepts and more common transactions \softline
will be emphasized. This should provide a good starting point for future study of taxation. It \softline
should also provide a better understanding of the impact of tax laws on daily activities and pro\-
vide insight into how tax laws affect business and financial decisions.\par
}{\plain \fs24 \lang1033 \tab By the end of this course, students should:\par
}\pard \fs24\li1008\tx0\tx504\tx1008\tx1512\tx2016\tx2520\tx3024\tx3528\tx4032\tx4536\tx5040\tx5544\tx6048\tx6552\tx7056\tx7560\tx8064\tx8568\tx9072\tx9576\tx10080\tx10584 
{\plain \fs24 \lang1033 * Have a good understanding of the tax law's basic structure\par
}\pard \fs24\li1008\tx0\tx504\tx1008\tx1512\tx2016\tx2520\tx3024\tx3528\tx4032\tx4536\tx5040\tx5544\tx6048\tx6552\tx7056\tx7560\tx8064\tx8568\tx9072\tx9576\tx10080\tx10584 
{\plain \fs24 \lang1033 * Understand tax terminology\par
}\pard \fs24\li1008\tx0\tx504\tx1008\tx1512\tx2016\tx2520\tx3024\tx3528\tx4032\tx4536\tx5040\tx5544\tx6048\tx6552\tx7056\tx7560\tx8064\tx8568\tx9072\tx9576\tx10080\tx10584 
{\plain \fs24 \lang1033 * Understand distinctions between tax accounting and general accounting\par
}\pard \fs24\li1008\tx0\tx504\tx1008\tx1512\tx2016\tx2520\tx3024\tx3528\tx4032\tx4536\tx5040\tx5544\tx6048\tx6552\tx7056\tx7560\tx8064\tx8568\tx9072\tx9576\tx10080\tx10584 
{\plain \fs24 \lang1033 * Be able to identify tax issues raised by common activities\par
}\pard \fs24\li1008\tx0\tx504\tx1008\tx1512\tx2016\tx2520\tx3024\tx3528\tx4032\tx4536\tx5040\tx5544\tx6048\tx6552\tx7056\tx7560\tx8064\tx8568\tx9072\tx9576\tx10080\tx10584 
{\plain \fs24 \lang1033 * Be able to efficiently find applicable tax laws and rules (research)\par
}\pard \fs24\li1008\tx0\tx504\tx1008\tx1512\tx2016\tx2520\tx3024\tx3528\tx4032\tx4536\tx5040\tx5544\tx6048\tx6552\tx7056\tx7560\tx8064\tx8568\tx9072\tx9576\tx10080\tx10584 
{\plain \fs24 \lang1033 * Make informed judgments based on research to resolve tax issues\par
}\pard \fs24\li1008\tx0\tx504\tx1008\tx1512\tx2016\tx2520\tx3024\tx3528\tx4032\tx4536\tx5040\tx5544\tx6048\tx6552\tx7056\tx7560\tx8064\tx8568\tx9072\tx9576\tx10080\tx10584 
{\plain \fs24 \lang1033 * Know the techniques and procedures necessary to prepare individuals' tax returns\par
}\pard \fs24\tx0\tx504\tx1008\tx1512\tx2016\tx2520\tx3024\tx3528\tx4032\tx4536\tx5040\tx5544\tx6048\tx6552\tx7056\tx7560\tx8064\tx8568\tx9072\tx9576\tx10080\tx10584
{\plain \fs24 \lang1033 \par
}{\plain \fs24 \b\lang1033 GRADING}{\plain \fs24 \lang1033 \par
}{\plain \fs24 \lang1033 \ul0 \tab Grades for this course will be assigned on a "percent" scale as follows:\par
}\pard \fs24\fi-2520\li3528\tx0\tx504\tx1008\tx1512\tx2016\tx2520\tx3024\tx3528\tx4032\tx4536\tx5040\tx5544\tx6048\tx6552\tx7056\tx7560\tx8064\tx8568\tx9072\tx9576\tx10080\tx10584 
{\plain \fs24 \lang1033 A = 90 - 100% \ul0 \tab \ul0 \tab B = 80 - 89.99%\par
}\pard \fs24\fi-3528\li3528\tx0\tx504\tx1008\tx1512\tx2016\tx2520\tx3024\tx3528\tx4032\tx4536\tx5040\tx5544\tx6048\tx6552\tx7056\tx7560\tx8064\tx8568\tx9072\tx9576\tx10080\tx10584 
{\plain \fs24 \lang1033 \'a0 \ul0 \tab \ul0 \tab C = 70 - 79.99% \ul0 \tab \ul0 \tab D = 60 - 69.99%\par
}\pard \fs24\tx0\tx504\tx1008\tx1512\tx2016\tx2520\tx3024\tx3528\tx4032\tx4536\tx5040\tx5544\tx6048\tx6552\tx7056\tx7560\tx8064\tx8568\tx9072\tx9576\tx10080\tx10584
{\plain \fs24 \lang1033 \par
}{\plain \fs24 \lang1033 \tab The components of the final grade will be:\par
}\pard \fs24\fi-1512\li1512\tx0\tx504\tx1008\tx1512\tx2016\tx2520\tx3024\tx3528\tx4032\tx4536\tx5040\tx5544\tx6048\tx6552\tx7056\tx7560\tx8064\tx8568\tx9072\tx9576\tx10080\tx10584 
{\plain \fs24 \lang1033 \'a0 \ul0 \tab \ul0 \tab \ul0 \tab Exams (3 - 16.67% each)\ul0 \tab \ul0 \tab \ul0 \tab 50%\par
}\pard \fs24\fi-1512\li1512\tx0\tx504\tx1008\tx1512\tx2016\tx2520\tx3024\tx3528\tx4032\tx4536\tx5040\tx5544\tx6048\tx6552\tx7056\tx7560\tx8064\tx8568\tx9072\tx9576\tx10080\tx10584 
{\plain \fs24 \lang1033 \'a0 \ul0 \tab \ul0 \tab \ul0 \tab Research Project \ul0 \tab \ul0 \tab \ul0 \tab \ul0 \tab 20%\par
}\pard \fs24\fi-1512\li1512\tx0\tx504\tx1008\tx1512\tx2016\tx2520\tx3024\tx3528\tx4032\tx4536\tx5040\tx5544\tx6048\tx6552\tx7056\tx7560\tx8064\tx8568\tx9072\tx9576\tx10080\tx10584 
{\plain \fs24 \lang1033 \'a0 \ul0 \tab \ul0 \tab \ul0 \tab Tax Return Project \ul0 \tab \ul0 \tab \ul0 \tab \ul0 \tab 20%\par
}\pard \fs24\fi-5040\li5040\tx0\tx504\tx1008\tx1512\tx2016\tx2520\tx3024\tx3528\tx4032\tx4536\tx5040\tx5544\tx6048\tx6552\tx7056\tx7560\tx8064\tx8568\tx9072\tx9576\tx10080\tx10584 
{\plain \fs24 \lang1033 \'a0 \ul0 \tab \ul0 \tab \ul0 \tab Homework and Class Participation\ul0 \tab 10%\par
}\pard \fs24\tx0\tx504\tx1008\tx1512\tx2016\tx2520\tx3024\tx3528\tx4032\tx4536\tx5040\tx5544\tx6048\tx6552\tx7056\tx7560\tx8064\tx8568\tx9072\tx9576\tx10080\tx10584
{\plain \fs24 \lang1033 \par
}{\plain \fs24 \b\lang1033 RESEARCH PROJECT}{\plain \fs24 \lang1033 \par
}{\plain \fs24 \lang1033 \tab The research project requires examining a given fact situation, identifying and researching \softline
the tax-law issues raised by that situation, and preparing a memorandum. The paper to be \softline
submitted will be in the form of a memorandum to a supervising tax professional, or to the client's \softline
file. It will require a recitation of the relevant facts, identification of the specific tax issue(s) \softline
raised, a discussion of the relevant rules and their application to the given facts, and a \softline
recommendation. Detailed instructions are given in the Research Project handout/web-page.\par
}{\plain \fs24 \lang1033 \par
}{\plain \fs24 \b\lang1033 TAX RETURN PROJECT}{\plain \fs24 \lang1033 \par
}{\plain \fs24 \lang1033 \tab The tax return project requires preparation of an individual tax return (which may be for a \softline
single person or a joint return for a married couple). The return must be prepared using available \softline
tax-preparation software. The particular preparation program used is not particularly important. \softline
Students who work in offices that have professional-grade tax preparation software can use that - \softline
assuming they have permission.\par
}{\plain \fs24 \lang1033 \'a0\ul0 \tab Because general-use programs (like "TurboTax") for 2001 taxes are not yet available, the \softline
tax return project will be a return for the 2000 tax year. General-use tax programs for 2000 \softline
should be fairly inexpensive. It is not necessary for each student to purchase his or her own \softline
program.\par
}{\plain \fs24 \lang1033 \'a0\ul0 \tab Correct preparation of the tax return may require some research. However, it is not expected \softline
that students will conduct research beyond consulting the course textbook. Detailed instructions \softline
are given in the Tax Return handout/web-page.\par
}{\plain \fs24 \lang1033 \par
}{\plain \fs24 \b\lang1033 HOMEWORK and CLASS PARTICIPATION}{\plain \fs24 \lang1033 \par
}{\plain \fs24 \lang1033 \tab For each class session, there are a number of assigned problems. Unless otherwise indicated, \softline
the assigned problems will be found at the end of the chapter to be discussed during the class \softline
period. "Points" will be given for each answer submitted, }{\plain \fs24 \i\lang1033 if it appears to be a reasonable attempt \softline
to answer the assigned question}{\plain \fs24 \lang1033 .\par
}{\plain \fs24 \lang1033 \tab During each class, there will be some discussion of problems - frequently the assigned \softline
homework problems. Class participation will consist, in part, of proposing solutions to discussion \softline
problems and other issues. Asking and answering questions is also part of class discussion. \softline
Students who have not read the assigned materials before class will find it difficult to meaningfully \softline
participate in class discussions. Students should be prepared to be called upon during each class \softline
session.\par
}}