MCCCD Program Description

Income Tax Preparation

Course: ACC121

First Term: 2020 Fall

Lec + Lab 3.0 Credit(s) 3.0 Period(s) 3.0 Load
Subject Type: Occupational
Load Formula: T - Lab Load

Description: Preparation of and practical experience in preparing individual Federal income tax returns using computer software.

MCCCD Official Course Competencies
1. Describe the purpose and history of Internal Revenue Service (IRS) and federal income tax. (I) 2. Determine the filing status of a taxpayer in various situations. (I) 3. Utilize the current federal tax laws and filing practices to prepare federal tax return forms and related supporting schedules for individual taxpayers. (I-VI) 4. Prepare federal tax returns using tax preparation software. (I) 5. Identify taxable and tax-exempt income of a taxpayer. (II) 6. Determine a taxpayer`s business income and related expenses for a sole proprietorship. (II) 7. Calculate the qualified business income (QBI) deduction. (II, III) 8. Determine the tax treatment of income from retirement plans and Social Security. (II) 9. Calculate the amount of a taxpayer`s itemized deductions and compare to their standard deduction. (III) 10. Describe available tax credits and the circumstances in which they apply. (IV) 11. Determine other taxes due. (IV) 12. Identify capital gains and losses for a taxpayer. (V) 13. Identify taxes withheld and estimated payments. (VI) 14. Calculate taxpayers` federal income tax. (I-VI)
MCCCD Official Course Competencies must be coordinated with the content outline so that each major point in the outline serves one or more competencies. MCCCD faculty retains authority in determining the pedagogical approach, methodology, content sequencing, and assessment metrics for student work. Please see individual course syllabi for additional information, including specific course requirements.

MCCCD Official Course Outline
I. Individual federal income tax return A. History B. Purpose C. Who must file D. Filing status II. Gross income A. Inclusions and exclusions B. Earned income C. Invested income D. Retirement plans E. Other personal income F. Self-employment income and expenses G. Other business income and expenses III. Deductions A. Standard B. Itemized IV. Tax credits and special taxes V. Capital gains and losses VI. Tax payments A. Withholding B. Estimated payments C. Payroll taxes

MCCCD Governing Board Approval Date: December 10, 2019

All information published is subject to change without notice. Every effort has been made to ensure the accuracy of information presented, but based on the dynamic nature of the curricular process, course and program information is subject to change in order to reflect the most current information available.