ACC 322: Taxes II

A study of tax compliance for corporations, partnerships and fiduciaries, as well as for not-for-profit organizations, including tax accounting for formation, reorganization, distribution and liquidation of organizations.  The study of transfer taxes and the preparation of the related federal tax forms are included. Students are required to identify and resolve tax issues through the utilization of various sources, including applicable tax law and regulations, administrative and judicial opinions, interpretative texts and published procedures. In addition to tax research, the practical compliance aspects of tax return preparation are covered. While the focus is on federal taxes, state tax implications are also studied, including multistate tax situations. Prerequisites: ACC 106, ACC 321.