Delaware County Community College, Serving Delaware and Chester Counties

ACC 210 - Federal Income Tax Accounting

Course Description

The objectives of this course are to explore the role of the personal income tax in the U.S. economy and to gain familiarity with income tax fundamentals. The course is intended as a business elective for students in the Business Administration curriculum and as a general elective for students enrolled in other transfer programs. Credit for this course will not be given to students who attain credit for Introduction to Tax Accounting (ACC 202).

Upon successful completion of this course, students should be able to:

Discuss the revenue, social and economic objectives of the U.S. income tax.
Discuss the history of the income tax in the United States.
Describe how tax changes become law, recent tax reforms and the tax-planning process.
Gain familiarity with income tax fundamentals income concepts, exclusions, deductions, tax rates and credits.
Calculate capital gains and losses and discuss their treatment.
Calculate the deductions for medical expense, casualty losses, taxes, contributions, interest and expense of earning a living.
Identify tax policies intended to contribute to full employment and national defense.
Calculate depreciation and investment credit.
Discuss common recognition postponement techniques.

Credit Hours: 3
Lecture Hours: 3

Course Prerequisites: ACC 111