Individual Income Taxes

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					                              Individual Income Taxes
                                     Tax - 341

Instructor:     Stacy Kline
Office:         504J - Matheson
Phone:          215-895-5866
Office Hours:   Thursday 2:30-5:30 and by appointment

Text:           West Federal Taxation Comprehensive Volume 2005 Edition, Willis,
                Hoffman, Maloney, & Raabe, West/Southwestern, 2005.
                Study Guide to accompany the text is optional.

                                        Raw                          Total Points
            Midterm Exam                 100                    A    450-500
            Final Exam                   150                    B    400-449
            Tax Return                   100                    C    350-399
            Research Assignments          80                    D    300-349
            Group Quizzes                 40
            Class Participation           30                     F <300
            Total Points Available       500

Midterm and Final Exam
Each exam will include multiple-choice questions and one comprehensive problem. The
final exam is cumulative because tax law by nature is cumulative. Exams are not open
book. One piece of 8 1/2 x 11 paper, front side only, will be allowed with written notes
for each exam. Exam material may come from any material in the chapters assigned and
any additional information discussed in class. No make-up exams will be given for any
reason. If you miss a midterm or final exam, you will receive a grade of zero.

Tax Return
One individual tax return (Form 1040) will be required for the term. You will have two
weeks to complete the tax return. Form 1040 is due in class in the eighth week of class
and will be worth 100 points toward your total grade. You must complete the forms
manually (i.e., no software). The due date of the tax return has been noted on the class
schedule. You may not discuss the information with your classmates and you must
prepare and submit your own work. Twenty points will be deducted from your score for
each day the project is late for any reason. (Think of me as the IRS assessing penalties!)
Research Projects
Two research projects will be assigned during the term. Each research problem is worth
40 points and is due one week after the problem is assigned. You will be assigned a
specific problem and you will be required you to locate tax law, including but not limited
to IRC sections, Regulations, cases, rulings or articles. Every research memo you write
must have four parts: Facts, Issue, Discussion and Conclusion. Twenty points will be
deducted from your score for each day the problem is late for any reason. (Again, think
of me as the IRS assessing penalties!)

Group Quizzes
There will be four quizzes throughout the term on specific topics or chapters. Each quiz
will have four multiple-choice questions. The quizzes will be performed in groups and
should be used as practice for upcoming exams. These quizzes may be announced or may
be unannounced. There are no make-ups for quizzes and a zero grade will be given for
any missed quizzes.
Multiple-choice quizzes will be given periodically throughout the term and are intended
as practice for the exams. Each quiz is worth 10 points. Each group is responsible for
submitting one quiz and the grade will be shared by all students present that day. It is
your responsibility to make sure your name is clearly listed on the quiz. If you arrive late
or leave early for the assignment, you will not get credit and will not be allowed to

Class Participation
Tax knowledge is cumulative. You must attend class and participate to learn tax law. In
addition, we will discuss the answers to various homework problems. If you cannot
attend class, please inform me ahead of time. Participation includes attending class,
being prepared for class, reading chapters and completing homework prior to class, and
discussing topics or asking questions during class time.
**NOTE: class participation grade points must be earned through attendance,
participation and completed homework at every class. You begin the term with zero
grade points and earn the points for each class for which you participate and are prepared.

You must read an assigned chapter before coming to the class in which I will lecture the
chapter. Homework for each chapter will be assigned at the end of the discussion of a
chapter. It is your responsibility to obtain the assignments. All assignments are posted
on the above website. We will go discuss only the homework problems giving you
trouble. Thus, it is imperative that you come to class having attempted the homework
problems so I can help you. Otherwise, I will move on to the next topic. Tax knowledge
is cumulative and it is important that you keep up with your readings and homework. You
must complete your homework to earn your participation points.
                          Fall Course Schedule
                                      (Subject to change)
Week     Date    Topic                                          Chapter

  1      9/28    Overview - Introduction                                   1
  1      9/30    Tax Research                                              2

                 Admin Procedures, Tax Formula, Personal and
  2      10/5    Dependency Exemptions                                     3
  2      10/7    Filing Considerations, Property Transactions              3

  3      10/12   Gross Income Inclusions                                   4
  3      10/14   Gross Income Exclusions                                   5

  4      10/19   Gross Income Exclusions                                   5
  4      10/21   Deductions and Losses                                     6

  5      10/26   Deductions and Losses                                     6
  5      10/28   Midterm Exam (Chapters 1-6)

  6      11/2    Losses of Individuals, Business Expenses                  7
  6      11/4    Depreciation and Amortization                             8

  7      11/9    Depreciation and Amortization                             8
  7      11/11   Employee and Self-employed Expense                        9

  8      11/16   Employee and Self-employed Expense                        9
  8      11/18   Itemized Deductions                                       9

  9      11/23   Itemized Deductions                                      10
  9      11/25   University Holiday

 10      11/30   Passive Activities                                       11
 10      12/2    Passive Activities                                       11

 11      12/7    Tax Credits                                              12
 11      12/9    Open

Week      tba    Final exam - all chapters

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