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Federal Income Tax Practice and Procedure

Explore the realities and responsibilities of federal income taxation as a professional practice specialty. Topics include tax return, payment, and information reporting requirements; statutes of limitations; civil penalties applicable to both taxpayers and tax professionals; taxpayer relief provisions; IRS assessment and collection processes; transferee liability; tax claims in bankruptcy; and professional standards and ethical considerations.

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You'll Walk Away with

  • The ability to prepare individual federal tax returns with a full understanding of the processes and procedures involved for individuals and business entities
  • Knowledge of items to be included in or excluded from gross income and of relevant deductions and credits
  • An understanding of the components of corporate taxation, partnership taxation, and S corporation requirements and resulting tax advantages
  • Familiarity with the unified transfer tax system rules related to gifts and inheritances
  • An understanding of the income taxation of trusts and estates
  • Knowledge of professional responsibility as it relates to tax engagements
NO open sections available for this course at the moment. Please check back next semester.