This course will provide a broad background in federal income taxation, with emphasis on fundamental tax concepts and the types of taxpayers. Topics will include an overview of tax code provisions an
d regulations applicable to individuals, corporations and partnerships; tax consequences of property transactions; similarities and differences between income tax provisions and financial accounting principles; and professional standards for tax practice. The course will also introduce students to the use of technology in tax practice, and methodologies for tax research and tax planning. Prerequisites: ACCT 103 and junior status. Restricted to School of Business majors and minors. Others may seek permission from the School of Business.