ACCT-220 Introduction to Taxation

The objective of this course is to provide students with an initial background in federal income tax. The course builds an appreciation of federal income tax laws, as opposed to accounting principles and theory. It is designed to develop a fundamental knowledge of basic federal income tax principles and concepts. The course is also designed to qualify the student as a TCE (tax counseling for the elderly) volunteer. This program is offered in the spring and is not a course requirement. The TCE program is specifically targeted to the elderly and is offered at the Selinsgrove Senior Center. The topics discussed in this course include the following: gross income inclusions and exclusions, adjusted gross income, deductions, exemptions, filing status, sales and exchanges of property, the earned income credit, the credit for the elderly, education credits, and capital gains and losses. Pennsylvania taxes are also covered. Prerequisite: ACCT-200. 2 SH.