ACCT 651: Advanced Issues in Taxation Master Syllabus
Course Instructor: Faculty Directory
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Course Website: Canvas
Program Learning Goals
Professional skills: Our graduates will demonstrate professional skills necessary for success in the accounting profession.
- Teaming & Leading - Our graduates will demonstrate the team leadership and interpersonal skills needed to form, lead, and work effectively in diverse organizational teams.
- Ethics and Professional Responsibility - Our graduates will understand the importance of ethical conduct and the regulatory environment of accounting.
- Professional Communications – Our graduates will communicate effectively to professional audiences in both written and oral forms.
- Analytical Decision Making - Our graduates will demonstrate analytical decision-making skills.
- Accounting Research - Our graduates will effectively conduct and communicate accounting research
Technical skills and knowledge: Our graduates will demonstrate and apply technical knowledge of accounting and auditing.
Global perspective: Our graduates will demonstrate an understanding of the role of accounting in the global business environment.
Course Description
This course focuses on identifying and resolving advanced issues facing various legal entities and transactions, including: C-Corporations, Partnerships, and S-Corporations. The overall goals of the course are for students to gain:
a. A strategic understanding of federal income taxes applicable to these entities and transactions.
b. A working knowledge of the sources of tax law and the process of tax research and reporting.
Students will research tax issues for hypothetical clients and prepare reports documenting their analysis, research, and recommendations. The reports should demonstrate an understanding of the sources of tax law, and the relative weight given to those sources. There will be two research assignments.
Course Objectives
Upon completing this course, you should be able to:
- Understand and consider the unique tax aspects of various legal entities, including Ccorporations, S-corporations, and partnerships.
- Be knowledgeable about tax issues relating to the formation, operation, and dissolution of such entities.
- Perform tax research using electronic tax libraries, such as CCH, which is available on the campus network and other Internet based research sites.
- Consider the ethical issues involved in tax planning including the Profession’s rules of conduct and the IRS Circular 230.
Course Materials
Lecture slides and other materials are available on Canvas. You will need access to a computer that has basic business software like Microsoft Office Suite and Adobe Acrobat Reader. You will also need speakers or headphones to listen to online course content. Please note that a fast-reliable internet connection will be necessary to download course content and upload deliverables.
Readings:
You will need to purchase Cengage Unlimited (ISBN:9780357700006) to access the textbooks listed below. This allows online access to all the publisher’s textbooks for a single low price. See Textbook Access tab in Canvas for more detailed information.
- Primary textbook: South-Western Federal Taxation 2022: Corporations, Partnerships, Estates and Trusts | 45th Edition
- Secondary textbook: Federal Tax Research | 12th Edition
- Non-textbook readings: Free online access via Legal Information Institute
The primary textbook will be most helpful in preparing for each week’s lecture, completing the homework assignments, quizzes, and studying for the exams. The secondary textbook will be most helpful in gaining additional mastery of the first week’s topics as well as learning to conduct tax research and in completing the research projects. The U.S. Constitution, Internal Revenue Code (IRC), and Code of Federal Regulations will be most helpful in understanding the foundation of U.S. tax law as well as a source of primary authority when adding citations to the research projects.
Course Policies
The course will be completed over 8 weeks. Course instruction will be delivered in person and online using Canvas. Please refer to the most recent course schedule posted on Canvas and any additional announcements for detailed information.
Attendance and participation: You are required to complete the assigned tasks on or before the due date and time mentioned in the course schedule. Please inform your instructor immediately if you are unable to complete any of the tasks within the mentioned due dates.
Deliverables: The course requires you to complete a set of individual and group work that includes readings, assignments, and activities. Individual work includes items such as readings, discussions, assignments, quizzes, and a final exam. Group work involves participating in team projects and collaborating to create project deliverables by the due dates.
Grading: The table below shows all assessment activities with corresponding grade weights. Due dates are listed in the syllabus tab in Canvas.
| Assessment Description | Grade Weight |
|---|---|
| Homework Assignments | 20% |
| Quizzes | 20% |
| Research Projects | 25% |
| Final Exam | 25% |
| Class Participation | 10% |
Note: Assignments and Research Project deliverables submitted after the deadline will receive zero points. Any changes to assignments or schedule will be announced on Canvas and via email. You are expected to check the course webpage and email at least once every 24 hours. Inability to access the course webpage or failure to read e-mails cannot be an excuse for late submissions or non-completion of assignments. No make-up assignments are available in this course and the final exam should be taken on the scheduled date. The course faculty reserves the right to grant or deny exceptions and/or extensions on a case-by-case basis.
A final course grade of A, B, C, or F will be issued based on comparative performance and is calculated as a weighted average of the grades you get throughout the module across all assessment activities mentioned above. The course faculty reserves the right to add a +/– on any letter grade on a case-by-case basis.
Homework: Homework is designed to require more than just having watched and/or attended the lecture. It is designed to require higher level thinking, additional thought, and potentially additional reading. There will be approximately 1-2 homework assignments per week throughout the module. Since late submissions are not allowed, the lowest score will be dropped. Each one is equally weighted, so for example, if we end up having 11 Homework assignments during the module, then after the lowest one is dropped, only the highest 10 Conceptual Homework assignments will be counted toward your final grade. If this example were to happen, then that would mean that each Homework assignment would be worth 2% (20%÷10=2%).
Quizzes: Quizzes are designed to test the knowledge you acquired from the videos and homework. Each closed-book quiz can only be accessed via Respondus Lockdown Browser inside Canvas. There will be approximately 1-2 quizzes per week throughout the module. Since late submissions are not allowed, the lowest score will be dropped. Each one is equally weighted, so for example, if we end up having 11 quizzes during the module, then after the lowest one is dropped, only the highest 10 quizzes will be counted toward your final grade. If this example were to happen, then that would mean that each quiz would be worth 2% (20%÷10=2%).
Participation: Class participation points will be earned in two ways: (1) participation in class/online discussions and (2) professionalism. It is critical that you learn to become involved in dialogue and speak up so you can represent yourself well in meetings and groups. A critical component of class participation and professionalism is the ability to listen to the thoughts and comments of your fellow students. Professional behavior and amiable attitude is expected. Walking in late, leaving early without permission, cell phone rings are examples of unacceptable professionalism and would affect your grade negatively. Focus on the quality, not just the quantity, of your comments (especially if they monopolize the chance others have to participate), and take advantage of opportunities to be actively involved in both small group and full class discussions.
Certain classes will utilize real-time student response software and/or require real-time research of the tax code and regulations. As such, please be sure to bring a charged smart phone, tablet, or laptop with internet connectivity capabilities to each class.
Research Projects: There will be approximately 2-3 research projects throughout the module. Weighting for each one will be clearly posted in Canvas. Research projects will require access to George Mason’s online library and can be accessed while on campus or by logging in with your George Mason ID and password.
Group Work: You will be assigned to a team and you will use the Classroom tools to work together and collaborate. Ongoing and substantive participation in the group activities is important to your learning and to the success of your group. At the end of each group assignment you will complete a peer assessment of your teammates' contributions to the group interactions. Your instructor will review your posts and interactions in the collaborative group space. Because participation is being evaluated, it is recommended that for document sharing and asynchronous group communications you use the Collaborative Group Space in Blackboard.
Group Projects vs. Individual Work:
- Students may discuss assignments with fellow classmates. Feel free to bounce ideas off each other and brainstorm possible solutions.
- Students must submit their own original work.
- Plagiarism is considered cheating, and such actions will not be tolerated. Plagiarism is defined as "the unauthorized use or close imitation of the language and thoughts of another author and the representation of them as one's own original work." Plagiarizing the work of classmates, former accounting students, internet authors, websites, etc. constitutes cheating.
- Brainstorming and collaboration becomes cheating when students execute individual assignments together. Another example of cheating can occur towards the end of an assignment. A student who changes an assignment to largely conform to the answers/style/format of another person is cheating.
- Using answer keys, solutions from the web, students' work from prior semesters, etc. constitutes cheating.
General: You may also want to take note of the following:
- Helping another student cheat constitutes cheating for all students involved.
- Students who are aware of cheating but fail to report it are in violation of the Honor Code and will be referred to the George Mason Administration. These students can expect to receive the same sanctions as the students who cheat.
- It is impossible to document all possible methods of cheating. The policies above are guidelines to help clarify expectations, but they do not include an exhaustive list of cheating activities. The onus is on each student to complete all course requirements in an honest manner, and any questions about acceptable academic behavior must be addressed to your professor. Thus, ignorance is never an excuse for engaging in academic dishonesty.
A Note on Writing Deliverables: Double-space, use a standard 12-point font, and place 1-inch margins in all assignments. When you make references to assigned course materials, use the following format: Last name of author(s), date. If you use other outside readings, give full bibliographic information at the end of the paper. Because good writing skills are so important in the business world, each of your deliverables should be clearly written and completely free of spelling and grammatical errors.
To cite and reference professional or academic sources, please use APA style. Specific instructions for in-text citations and referencing are found in the Publication Manual of the American Psychological Association 6th Edition or at The Purdue Owl website.
To cite the Internal Revenue Code and related sources, please see the examples in the first chapter of the primary textbook.
Good writing is critical for your personal success as well as success in the program. Even if you have a great idea, if you cannot communicate that idea and persuade your manager (or teacher), that idea may be wasted. Use your MSA program to work on your writing as much as you possibly can.
A Note on Course Presentations: A great presentation is a reflection of the effort and time spent on planning the content and practicing the delivery. Some success tips include time management, avoiding too much text on slides, knowing your audience and maintaining audience interest, having a summary/takeaway slide and being mindful of grammar/spelling and overall slide design/structure.
All submissions should be saved as “Last name_first name_assignment name” for individual assignments and as “Group name or number_assignment name” for group assignments before submission through SafeAssign on Canvas.
A Note on Team Grades and Free Ridership: In general, all team members will get the same grade on group assignments. After each graded group assignment, a peer evaluation form will be submitted confidentially to the professor via Canvas. If a student’s peers indicate a team member’s contribution was non-existent, inadequate, or significantly detrimental, then that team member’s grade on the group assignment will be reduced.
Course Website
The course website is your online classroom. It is located in the university’s course management system, Blackboard. Here you will perform many learning activities: see readings and assignments, view video lectures, interact with the instructor and your peers, work in groups, and much more.
To access your online classroom, follow these steps:
General: You may also want to take note of the following:
- Go to the Canvas website
- Type your Username
- Type your Password
- Click Login.
- New users see a Welcome page that invites them to create a profile. You can choose to create a profile later.
- Existing users see the My Institution tab.
- Click into the Courses tab to see your online courses for the term.
When you are ready to leave the classroom, click the logout button in the upper-right corner of the screen.
If Canvas is not functioning as expected, or you are unable to connect to Canvas or content within Canvas, email courses@gmu.edu for assistance.
Student Responsibilities
Browser + Webcam Requirement: This course requires the use of LockDown Browser and a webcam for all online exams and some online quizzes. The webcam can be the type that is built into your computer or one that plugs in with a USB cable.
Watch this brief video to get a basic understanding of LockDown Browser and the webcam feature.
LockDown Browser Download Instructions Download and install LockDown Browser from here.
Once Installed
- Start LockDown Browser
- Log into Canvas
- Navigate to the test
Note: You won't be able to access tests (and some quizzes) with a standard web browser. If this is tried, an error message will indicate that the test requires the use of LockDown Browser. Simply start LockDown Browser and navigate back to the exam to continue.
Guidelines
When taking an online test, follow these guidelines:
- Ensure you're in a location where you won't be interrupted
- Turn off all other devices (e.g. tablets, phones, second computers) and place them outside of your reach
- Before starting the test, know how much time is available for it, and also that you've allotted sufficient time to complete it
- Clear your desk or workspace of all external materials not permitted
- Remain at your computer for the duration of the test
- If the computer, Wi-Fi, or location is different than what was used previously with the "Webcam Check" and "System & Network Check" in LockDown Browser, run the checks again prior to the exam
- To produce a good webcam video, do the following:
- Avoid wearing baseball caps or hats with brims
- Ensure your computer or device is on a firm surface (a desk or table). Do NOT have the computer on your lap, a bed, or other surface where the device (or you) are likely to move
- If using a built-in webcam, avoid readjusting the tilt of the screen after the webcam setup is complete
- Take the exam in a well-lit room, but avoid backlighting (such as sitting with your back to a window)
- Remember that LockDown Browser will prevent you from accessing other websites or applications; you will be unable to exit the test until all questions are completed and submitted
Getting Help Several resources are available if you encounter problems with LockDown Browser:
- The Windows and Mac versions of LockDown Browser have a "Help Center" button located on the toolbar. Use the "System & Network Check" to troubleshoot issues. If an exam requires you to use a webcam, also run the "Webcam Check" from this area
- Respondus has a Knowledge Base available from support.respondus.com. Select the "Knowledge Base" link and then select "Respondus LockDown Browser" as the product. If your problem is with a webcam, select "Respondus Monitor" as your product
- If you're still unable to resolve a technical issue with LockDown Browser, go to support.respondus.com and select "Submit a Ticket". Provide detailed information about your problem and what steps you took to resolve it.
Communication: Students must use their George Mason email accounts to receive important University information, including messages related to this class and correspondence with the instructor. See Masonlive to obtain your personal George Mason e-mail account. George Mason policy requires faculty to communicate exclusively through the George Mason email system. This means your instructor can respond to email from your George Mason account only and cannot respond to emails you send from your personal or work email. The instructor will periodically send electronic messages to the entire class using the listserv formed by the MSA program or via the George Mason communication system. You are fully responsible for checking your e-mail regularly and for any information communicated to the class via e-mail. You should always feel free to communicate with the instructor via e-mail.
I will try to respond to emails and questions within 24-48 hours during the work-week (Monday through Friday). Students who anticipate missing a deliverable due date for religious reasons should inform the instructor of their anticipated absences during the first two weeks of the module. You can find the University semester schedule and religious holidays at academic calendar and religious holiday calendar. If you have an emergency that precludes you from meeting any deadline, please inform me as soon as possible with an explanation of the circumstance. You will also be required to provide documentation for why you were unable to complete the assignment or exam by the due date. If it is not an excused reason, you will receive a zero. There are very few excusable absences for assignments and exams. Please plan ahead.
Topics Covered
Understanding and Working with the Federal Tax Law.
The Deduction for Qualified Business Income for Non-Corporate Taxpayers.
Corporations: Introduction and Operating Rules.
Corporations: Organization and Capital Structure.
Corporations: Earnings & Profits and Dividend Distributions.
Corporations: Redemptions and Liquidations.
Corporations: Reorganizations.
Consolidated Tax Returns.
Partnerships: Formation, Operations, and Basis.
Partnerships: Distributions, Transfer of Interests, and Terminations.
S Corporations.
Sources of Tax Law.
Tax Research Methodology.
Tax Research Tools.
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