MCCCD Program Description

Individual Tax Preparation

Course: ACC121

First Term: 2022 Spring

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

Description: Theory and practice of accounting for individual taxation.

MCCCD Official Course Competencies
1. Demonstrate the ability to gather relevant taxpayer data and filing documents for the preparation of the tax return. (I) 2. Determine the filing status of a taxpayer in various situations. (I) 3. Prepare federal tax returns to minimize tax liability and accurately reflect the taxpayers` obligation. (I) 4. Calculate taxpayers` federal tax liability. (I-V) 5. Utilize the current federal tax laws and filing practices to prepare federal tax return forms and related supporting schedules for individual taxpayers. (I-V) 6. Identify taxable and tax-exempt income of a taxpayer. (II) 7. Determine a taxpayer`s business income and related expenses for a sole proprietorship and complete the appropriate business schedules. (II) 8. Identify capital gains and losses for a taxpayer. (II) 9. Determine the tax treatment of income from retirement plans and Social Security. (II) 10. Calculate the applicable business deductions. (II-III) 11. Calculate the amount of a taxpayer`s itemized deductions and compare to their standard deduction. (III) 12. Describe available tax credits and the circumstances in which they apply. (IV) 13. Determine other taxes due. (IV) 14. Identify taxes withheld and estimated payments. (IV)
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. Preliminary work A. Taxpayer data B. Prepare tax returns II. Income and assets A. Income B. Retirement income C. Property 1. Real 2. Personal D. Adjustments to income III. Deductions and credits A. Itemized deductions B. Credits IV. Taxation and advice A. Taxation B. Advising the individual taxpayer V. Specialized returns for individuals A. Estate tax B. Gift tax C. International information reporting

MCCCD Governing Board Approval Date: June 22, 2021

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.