Policies and Procedures

General Information

Course: BAAC 325-008 - Income Tax I

Semester Hours: 3

Prerequisites:Prerequisite: BAAC 221 with a minimum grade of “C.” Business majors only.
Juniors or above.

Course Description :A comprehensive introduction to federal income taxation with emphasis on tax implications of business transactions. Basic tax concepts are applied to a broad range of taxpayer activities and related entities.

Course Objectives:

1. To introduce students to a broad range of tax concepts and types of taxpayers.
   
2. To provide a framework for integrating income tax planning into the business decision-making process.
   
3. To provide students with the ability to conduct basic tax research using professional tax guides and online tax resources.
4. To expose students to professional standards and ethics.
   
5. To provide students with a working knowledge of the interrelationships and differences between financial accounting and tax accounting.
   
6. Increase students' technological comfort and proficiency by providing hands-on experience with technology applications used in accounting and business.

Textbooks:

Required:
	Author: Dennis-Escoffier and Fortin Title: Taxation for Decision Makers Edition: 2008 Publisher: Cengage ISBN: 9780324654110 or 0324654111 Price: $168.00 new; $126.00 used
	Author: Smith Title: West Internal Revenue Code of 1986 and Treasury Regulations Annotated and Selected Edition: 2008 ISBN:9780324399233 or 0324399235 Price: $105.65 new; $79.25 used
	Authors: N/A Title: CPS Student Response Pad Publisher: eInstruction Price: $21.35 new; $16.00 used purchased at the book store

Attendance:

You are expected to be in class and ready to work at the official class start time, and will remain in class until the official end of class. Make sure that you schedule your classes so that you will not be late or have to leave class early.

Attendance in this class is critical for two reasons. First, the coursework is very demanding and I sometimes cover material is not in the textbook. Second, you will be working in groups, and regular communication with fellow group members is the key to having a successful group.

I will take attendance every day. Also, to further facilitate group communication, I will make a seating chart whereby each group will sit together, because you will do in-class assignments together in addition to your outside assignments.

Code Quizzes will be given at precisely 2:00 p.m.

Class Participation:

I expect you to come to class prepared. Being prepared for class means that you have completed the reading assignment BEFORE we go over a particular chapter. I will give short quizzes (see below) on the material that you are supposed to have readThe quizzes will count as part of your grade.

The class will use student response pads (they look like remote controls) to monitor class participation and also to take attendance. Each student will be assigned a specific pad, which is identified by number. Each student will have to "log in" at the beginning of class to be counted as being present for that day. The instructor will ask several questions each class period, which will require students to respond by using their pad. Responses are aggregated so that individual student responses will NOT be displayed. However, the responses are recorded and available to the instructor.

Course Requirements and Coverage:

General: The study of accounting cannot be learned by reading and watching someone else work problems. Therefore, it is essential that you read the chapter and seriously attempt ALL assigned problems BEFORE coming to class so that you will be prepared to ask questions on areas in which you are confused. There will be in-class and out-of-class group work. You are expected to participate in class, and outside of class via electronic communications.

Outside Assignments Homework assignments will be done individually, except when the instructor specifies that you work in groups. The four major outside assignments will be completed in groups of 2 or 3. Groups will be assigned in class and you will work in the same group for the entire semester. Group members may be fired for failing to contribute to the group. Group members should maintain documentation concerning sharing of work load in case the group needs to fire the student. Emailing memos to yourself and the instructor will help establish a timeline of events. Please do NOT wait until the end of the semester to address work load issues. Early intervention by the group and/or instructor is usually sufficient to rectify the situation.

Each assignment will be graded by the instructor. For group assignments, peer evaluations will help determine the percentage of points earned each group member will receive. See Assignments page.

Research assignments will require that you use one or more online tax research databases.

Internal Revenue Code Structure: Studies have shown that tax practitioners (and students) can greatly increase their tax research effectiveness (finding relevant information) and efficiency (decreasing the time it takes to find relevant information) by improving their knowledge of the structure of the Internal Revenue Code as well as learning the section numbers of common Code sections. To help you improve your Code knowledge, I have prepared a Code Structure Guide which contains the structure of the Internal Revenue Code (including the Code sections covered by each division) and a list of 105 of the most common Code sections. You will be tested on a portion of the Code and its structure six times during the semester with brief 5 minute quizzes at the beginning of the period.

Tax Research: During the semester you be required to perform tax research using an online tax research database, prepare an individual tax return, and a corporate tax return. Additional "short" assignments requiring you to use the threaded discussions (discussion forums) will also be assigned.

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Course Grading:

Code Quizzes: Six short quizzes (5 minutes) will be given at the beginning of class during the semester. Each quiz will be worth 10 points. If you miss an exam due to an emergency or official UNC activity, you will have an opportunity to take a make-up exam if discussed with me BEFORE the exam date (emergencies are excepted). NO MAKE-UPS FOR UNEXCUSED ABSENCES.

Homework: I will assign homework problems throughout the semester.

In-class Clicker Quizzes: There will be a 3 - 5 question quiz most class periods. Always be prepared for a quiz. If you have read the material and made an attempt at the homework PRIOR to attending the class that we discuss it, the quiz will not be a problem. Your quiz score will be determined by taking the total number of questions answered correctly by the number of questions asked during the semester. There are no make-ups. To compensate for unforeseen absences, I will take the average number of questions that the top 10% of the class (approximately 5 students between the two sections) got wrong and add that number to each persons total score. For example, if the total number of questions this semester is 50 and the average number of questions wrong for the top 10% of the class is 6, then I will add 6 to each person's score. However, you cannot earn greater than 100% of the points allocated for quizzes.

Homework: I will assign chapter questions and other homework periodically throughout the semester. It will be due at the beginning of the class period following the class in which I assign it. I encourage you to help each other with the homework. However, your homework must be YOUR OWN WORK. Turning in someone else's work is cheating as well as an honor code violation and will result in disciplinary action.

Outside Assignments: Assignments will be completed in groups of 2 or 3. You are required to fill out a peer evaluation for each assignment. Also, you MUST fill out an overall peer evaluation at the end of the semester. Failure to fill out assignment peer evaluations will result in a 5 point deduction for that assignment. Failure to fill out an overall peer evaluation will result in a 5 point deduction for EACH assignment. Your grade will be based on the group grade multiplied by the average of your overall peer evaluation percentage. However, your overall peer evaluation percentage may be adjusted based on the results of the individual assignment peer evaluations and my evaluation of your effort on the assignments.

Exams: There will be three exams (non cumulative) during the semester and a final exam. The final exam will be approximately 25%-30% non-cumulative (Chapter 10) and 70%-75% cumulative (Chapters 1-9, 11, Appendix A, and all assignments). The cumulative portion of the final exam is designed to test how well you have integrated the material presented throughout the entire semester. You may use NONTEXT PROGRAMMABLE calculators. Use of cell phones, pagers, PDAs and any other electronic communications devices are prohibited during exams. If you miss an exam due to an emergency or official UNC activity, you will have an opportunity to take a make-up exam if discussed with me BEFORE the exam date (extreme emergencies are excepted). If we cannot agree on a make-up time, the points from that exam will be added to the comprehensive final exam. NO MAKE-UPS FOR UNEXCUSED ABSENCES.

Email:

All students are provided a UNC e-mail account when you register for classes, and your account will remain active as long as you are enrolled for Fall and Spring terms. If you forgot your user ID, you can click here for instructions on how to obtain your user ID and email address (e-mail login). You will need your student ID# and SIN#.

BearMail Login Page (http://blue.unco.edu)

I will send all outgoing messages to your UNC accounts. (I will send replies to individual e-mails to the e-mail address from which an individual message was sent). This policy insures that all students will have a valid e-mail address to receive my messages. If you have another e-mail account that you use regularly (as I assume most of you do), you can forward mail from your UNC account to your regular account. If you change your e-mail address during the semester be sure to change your forwarding information. Link for instructions on how to forward all UNC e-mail to another account.

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MCB/Accounting Department Policies:

Withdrawals: The student may drop a class during the "drop/add" period. The predetermined dates of the "drop/add" period are listed in the Schedule of Classes each semester. A faculty member may drop a student from a class if the student has not attended the first two class hours. The student must notify the instructor if he or she cannot attend the first two hours during which the class meets. The last date to withdraw from an individual course is the midpoint of the semester. Withdrawal deadlines for each semester are also noted in the schedule of classes.

Incomplete Grades: A grade of "I" is assigned when course work is complete at the end of the semester and is used only when a student cannot fulfill his or her academic responsibilities during the last week of a semester or because he or she missed the final examination due to sickness, emergency in the family, or other serious emergency.

Kenneth W. Monfort College of Business Statement: Kenneth W. Monfort College of Business students are expected to conduct themselves in accordance with the highest standards of academic honesty.  Cheating, plagiarism, illegitimate possession and disposition of examinations, alteration, forgery, or falsification of official records and documents, and similar acts or the attempt to engage in such acts are grounds for disciplinary action.  This action can include the following in addition to any University disciplinary action:

1. A failing grade for a particular assignment.
2. A failing grade for a particular course.
3. Suspension from the College of Business Administration.
4. Expulsion from the College of Business Administration.

Students are expected to complete all prerequisites for a business class prior to the first day of class.  Students may not concurrently enroll in a class and its prerequisite(s) unless it is expressly stated in the bulletin that the class is a co-requisite.  Any exception to this policy must be approved by the Director of the School offering the class.

Students must submit original works for assignments required in this class.  This includes term papers, cases and other course requirements.  A student who submits a work that was previously submitted to another class without prior approval from the instructor is in violation of this policy.  A student who violates this policy may receive a failing grade for the assignment, a failing grade for the class, and face termination of his/her business degree program.

Assessment Statement: The Monfort College of Business may collect data in this course that will be used to assess student progress toward our program learning goals and objectives.  Individual student performance information will be kept confidential; however, this data may be disseminated in an aggregate form to professional groups and through research publications.  If you do not wish your performance in this class to be included in research about overall student performance (beyond the accreditation process), please inform your instructor in writing of this intent.

Global Dimension Coverage:You will note that the topics and assignments for this course are not directly related to international business.  However, as appropriate, you are encouraged to consider this dimension as you complete the readings and assignments.

Computer Utilization: Students are encouraged to use the College's computing facilities to complete their assignments.  The student computer labs in Kepner Hall provide support for word processors, spreadsheets, databases, writing-style checkers, and presentation graphics.  Internet and e-mail access are available in the labs.  Student consultants are on duty at the labs to assist with these applications.

Library Utilization: Students are encouraged to use the Michener Library collections and online subscription information resources to supplement readings and to complete assignments.  Library databases include Business Source Premier, Business & Company Resource Center, LexisNexis Academic, and many others available at http://library.unco.edu/articlefinder.htm. The business reference librarian, Sarah Naper holds regular Kepner office hours.  Find her contact information at http://www.unco.edu/library/personnel/naper.htm.

Technology Guidelines: Each student is required to review and become familiar with the following classroom technology guidelines:  http://mcb.unco.edu/web/gi/cl/Classroom%20Technology%20Guidelines.pdf

Calculators: The Accounting Department has adopted a policy that prohibits the use of any text programmable calculator during exams. Use of such a calculator on an exam is grounds for disciplinary action.

Ethics Coverage: Ethical considerations are discussed in various contexts throughout the semester, including during discussions of types of taxes, the difference between tax avoidance and tax evasion, tax penalties, vertical and horizontal equity, different tax treatment of items depending on type of entity, alternative minimum tax, and the marriage penalty. As appropriate, students are encouraged to consider the ethical dimension as they complete their outside readings and assignments.

Global Dimension Coverage: The international scope of tax area is discussed in the introductory material. The foreign earned income exclusion and the foreign tax credit are discussed. Also, as appropriate, students are encouraged to consider the ethical dimension as they complete their outside readings and assignments.

Disability: Disability Statement: Student who believe that they may need accommodations in this class are encouraged to contact Disability Support Services (970) 351-2289 as soon as possible to ensure that accommodations are implemented in a timely fashion.

Professor Policies/Expectations:

• Be prepared for class.
• Arrive on-time.
• Stay for the entire class.
• Do not disturb others.
• Pay attention in class.
• Bring all books to class EVERY DAY.
• Notify me of any absences.
• Cell phones and pagers will be turned OFF in class.
• Dress appropriately for class. This is a classroom, not a not a nightclub.
• No hats on exam day.
• Cell phones are off or on silent. No answering cell phones in class.
• No working on assignments for other courses while in class.
• Computers will only be used for CURRENT CLASS materials.
  • No instant messaging
  • No checking email
  • No web surfing
  • No online poker playing
  • Etc.
• Check the course web site and BlackBoard several times a week.
• Check your email daily.