The course website can be accessed at the I-JILL Illinois Compass site, http:// compasses.Illinois.Due.
It includes downloaded materials and is updated as the semester progresses. You should check the website often, as you will be held responsible for any information posted that affects any component of your grade. Also, please refer to the Communications website for guidance on verbal and written assignments: http://howl . Business. Illinois. Due/accountancy/programs/BBS/resources/ communication. Electronic Tax Research Databases There are three electronic tax research services available to you via the Lulls library:
Bureau of National Affairs (BAN) Tax and Accounting Center; Commerce Clearing House (ACH) Intelligence; and Research Institute of America (ARIA) Checkpoint. These databases can be accessed at: http://www. Library. Gucci. Due/bell. On the library weeping, click “Accounting” under the Subjects heading in the upper left portion of the page. Then, click on the “Tax” tab to find the three services. Course Objectives The objective of this course is to provide you with an integrated foundation for understanding the taxation of individuals, sole proprietors and property transactions.
After completing this course, you will be able to compute an individual’s federal income tax liability and prepare an individual federal income tax return; understand the basic operating principles that apply to a sole-proprietor and how they are reflected on the individual’s tax return; understand the tax treatment associated with sales, exchanges, and other dispositions of property; understand tax practice administrative procedures; and evaluate ethical tax issues. The introductory nature of this course and the number of topics covered necessitates limited coverage in many areas.
More extensive coverage is available in other taxation courses. Page 1 of 6 Course Rules Prerequisites ACHY 202 or equivalent. The Department of Accountancy will administratively drop you from the course if you do not meet the prerequisites. Registration You must be officially registered for this course or you will not receive a grade under any circumstances. Class Format This course uses a combined lecture and discussion format with several group projects. Class participation is expected and will help you get the most out of the course.
Never be afraid to ask questions. I expect that you will read all assigned material prior to the class for which it is assigned. Suggested homework problems from each chapter will be assigned (but not due) to further illustrate the concepts in the textbook. For maximum benefit, you should complete all of the assigned problems. Although these problems are not graded, their timely completion will strengthen your performance on the quizzes and exams. The textbook solutions manual will be posted on Compass so that you can check your work.
Attendance Policy Regular attendance is expected and strongly recommended. Any material discussed n class, including material beyond that covered in the textbook, can be included on assignments and exams. You cannot expect to be successful in this course without regular attendance. Lulls Email The I-JUICE e-mail system will be used to convey certain changes in the course schedule, clarifications on assignments, etc. I use only I-JILL Nettled e-mail addresses. Please keep your inbox clear as you are responsible for the content of e-mails that cannot be transmitted because your box is full.
Performance Assessment / Grading Assignment and Exam Format Course assignments, quizzes, and exams can include any of the following question hypes: problems, short answers, multiple choice, true/false, and essay. Closed Book Policy All quizzes are closed book, closed notes. All exams are closed book. However, for the exams (not the quizzes) you may use an 8. Xx-inch sheet on which you can write formulas or other helpful information. For the mid-term, you are permitted to use one side of the sheet; for the final, you are permitted to use both sides of the sheet. You may write in whatever font size you find legible.
Only basic four-function calculators are allowed for exams and quizzes; no cellular phones, tablets, or similar devices are allowed. Students may not share calculators during any quiz or exam. Performance Assessment All assignments, quizzes, and exams will be assigned a point score. A final letter grade will be assigned based on the total number of points earned during the course. Points are allocated as follows: Assessment Points Exam I (mid-term) Exam II (final, cumulative) 150 Quizzes Problem Sets Research Presentation Tax Return Project Total 50 Page 2 of 6 All of the above assessments are scheduled according to the syllabus.
Exam II must be taken at the scheduled date and time because it is set by the University. However, assignment, quiz, and mid-term schedules may be revised at the instructor’s discretion depending on the pace of the class. Problem sets, the research presentation, and the tax return project will be completed in assigned groups. In general, I will follow a standard grading scale (A = 90% and above; B = 80-89. 9%; etc. ). However, I may also employ a curve to determine final grades if the average scores are low. Therefore, there will be no extra credit assignments. I reserve the right to make changes to the grading scheme if needed.
Posting Grades The University of Illinois prohibits posting grades by any portion of a student’s Social Security number or name. These guidelines also prohibit the emailing of grades to students. Federal privacy laws (FREER) prohibit the distribution of grades via email or telephone. Late Assignments In general, neither excused nor unexcused absences will change deadlines for assignments. If you will miss a class in which an assignment is due, you must email or deliver that assignment to my office by 5:pm on the assignment due date, or have a classmate bring it to your class section.
Unless otherwise noted, I will not accept assignments after the 5:pm deadline. Exams / Quizzes Missed Exams/Quizzes In the event of a missed exam/quiz due to an excused absence, I will re-weight other components of the course grade. Prior approval is required for all university- authorized absences (e. G. , athletic competitions), while absences due to severe personal illness or emergency must be formally excused by the Emergency Dean (333-0050, available 24/7).Missed exam/quizzes due to unexcused absences will receive a score of zero. IMPORTANT: Missed exams/quizzes for employment-related reasons (e. . , Job fairs, job interviews, office visits, traveling to an office visit) are not personal emergencies ND, thus, not excused absences. It is your responsibility to schedule employment- related activities around academic deadlines (a schedule is attached for your convenience). Final Exam Conflicts I follow the University definition of a final exam conflict as defined in the Student Code. Thus, if you have three consecutive university course exams scheduled within one 24-hour period, or two university course exams scheduled at the same time, you may elect to take the conflict final exam.
If you do have a conflict, you must notify me in advance via email and provide documentation to support the conflict. Department staff will verify the information and you will then be notified of your eligibility to take the conflict exam. Requests may be denied if conflicts arise from travel plans, Job interviews, or other non-exam conflicts. Getting Help or Clarification of Information To succeed in this course, you must invest a great deal of time and energy. If at any time you feel that you are investing necessary effort, but are not learning the material or improving your skills, please contact me.
I will do my best to help and recommend additional resources. You may use email to communicate with me outside of class ND office hours. I request that email correspondence not contain overly technical questions that will require lengthy replies. Instead, technical questions should be addressed during class or office hours. I will make every effort to reply to emails by the end of the next business day. Because your questions or concerns are often relevant to others in the class, I may respond by indicating that I have posted additional information to Compass or that I will cover the question in the next class.
If I cannot adequately respond to your question via email, I will schedule an appointment with you. Please do not wait until the last day before an assignment is due to ask a question, and likewise, please do not expect an answer if you email me the night before an assignment is due. Emails and office hours do not substitute for class attendance; I will not be repeating my lectures in those venues. Page 3 of 6 Grading Disputes Although the Task and I will make every effort to grade your work accurately, grading errors may arise.
If you believe there is an error, you may request a re-grade of the assignment or exam in question. Be aware, however, that grading errors can occur in both directions (favorable and unfavorable). Therefore, if you request a re-grade, the entire assignment or exam will be considered, and all grading errors will be corrected. By requesting a re-grade, you accept the possibility that your grade may go up or down. To request a re-grade, you must submit a written request within one week from the class meeting in which the assignment or exam was returned.
The request must be accompanied by the graded original and must state the area of dispute, your recommendation, and Justification for your recommendation. The University’s policy on capricious grading is available online at: http://adman. Illinois. Due/policy/code/ article_apart _3-107. HTML. Academic and Professional Integrity “It is the responsibility of the student to refrain from infractions of academic integrity, from conduct that may lead to suspicion of such infractions, and from conduct that aids others in such infractions” (University of Illinois Student Code, 51-401).
Students have been given notice of the preceding rule by virtue of its publication in the Student Code. Regardless of whether a student has actually read this rule, a student is charged with knowledge of the rule. The University Student Code is available online at http://adman. Illinois. Du/policy/code/index. HTML. I expect you to act with integrity and in compliance with University rules and regulations. As such, all work should represent your independent effort, and plagiarism of anyone else’s work (whether that work is in the form of oral or written notes, computer files, electronic form, paper form, etc. ) will not be tolerated.
If academic dishonesty is evident, the penalty ranges from giving a O on the assignment to recommending an “F” for the course. Reasonable Accommodations for Students with Disabilities If you have a condition, such as a physical or learning disability, which will make it official for you to carry out the work as outlined or which requires academic accommodations, please notify me during the first week of the course. I will do my best to accommodate you The University policy on reasonable accommodations for students with disabilities is in Section 51 110 of the Student Code and is available online at: http://adman. Illinois. Due/policy/code/articles _apart _ 1-110. HTML. BIFF Emergency Procedures For students attending class in BIFF, note that BIFF is not a designated tornado shelter. In the event of a tornado warning please seek shelter in the Howlers Hall basement r the Armory (the nearest designated University tornado shelters). If a tornado is imminent, the BIFF basement stairwells can be used on an emergency basis. In the event of a fire in BIFF, exit BIFF and proceed to 141 Howlers Hall.
In the event of threat from a shooter on campus, lock down the classroom and move to a place of safety within the classroom. If you encounter a suspicious package, do not touch the package, alert campus security, and refrain from cell phone usage until the situation is resolved. More detailed information and action instructions are available in the BIFF Building Emergency Action Plan. Page 4 of 6 Course Schedule A class schedule that contains meeting dates, topics, due dates, and quiz/exam dates is provided to help you plan your work.
Disclaimer The class schedule is as accurate and complete as possible. However, there may be occasions where revisions become necessary. I reserve the right to make revisions and will notify you of any changes in advance.