AC 5550 - Federal Taxation of Individuals and Entities

This course explores taxation of individuals and entities at the Federal level. The US tax system and procedure as pertain to individuals and entities are presented and discussed. Participants will learn how to approach a tax issue, conduct research, read and interpret the tax laws and IRS regulations apply them to various situations to solve the tax problems, and ensure compliance with the appropriate Laws and Regulations. Relevant internal controls, financial analysis, authoritative justifications and accountants’ Code of Conduct are covered. The knowledge gained through this course should enable students to understand the effects of taxes on Financial Statements and corporate or individual financial strategies. Credits: 4