ACCT367 - Federal and New York State Taxes

4 credits
An introduction to the federal income tax as it relates to individuals. Particular emphasis is given to the basic multi-tiered tax structure. The underlying concepts of basis, inclusion, exclusion, deduction, are defined, utilizing the Internal Revenue Code and related material. Special classes of taxpayers including partnerships, estates, trusts, corporations of various types, and foreign taxpayers are considered as well as accounting and procedural rules.
Prerequisites: Accounting 102 and senior standing