Main Content
Syllabus
ACCTG 410: Federal Taxation II
ACCTG 410: Federal Taxation II (3 credits): An examination of the rules and forms used to compute the federal tax liability of corporations and partners.
Overview
This course provides in-depth coverage of the theory and practice of tax planning for corporations, partnerships, and other related pass-through entities. Topics will include methods of tax accounting, the life cycle of assets in a business, characteristics of different types of business entities, corporate income tax model, accounting for income taxes, formation and capital structure, corporate non-liquidating distributions, corporate acquisitions and reorganizations, partnership formation and operation, special partnership issues, S corporations, issues raised in state, local, and multinational business taxation, and taxation of gifts, estates and trusts.
Satisfactory completion of this course may count toward the education requirements for eligibility for the CPA examination in most, if not all, jurisdictions.
Prerequisite
ACCTG 310 Federal Taxation I (3). Please do not attempt to enroll in this class without having satisfactorily completed the prerequisite class. That level of familiarity will be assumed by the instructor. Concurrent enrollment does not satisfy the prerequisite requirement. Every student is also required to have satisfied any other requirements of the Penn State Harrisburg School of Business Administration for enrollment in this class.
Course Objectives
Upon successful completion of this course, you will be able to do the following:
- Distinguish between taxable and nontaxable business income, deductible and nondeductible business expenses, and the various methods used to account for each,
- Summarize adjusted basis and the various cost recovery methods which affect basis,
- Describe the gains or losses realized and recognized on disposition of property and the tax treatment of each,
- Discuss the tax and nontax characteristics of the different types of tax entities,
- Explain the corporate tax model and the corporation’s obligation for tax reporting and payments including alternative minimum tax,
- Identify the objectives of Financial Accounting Standard Board’s (FASB) requirements for tax reporting and a business’s income tax provision,
- Describe the legal framework which applies to property distributions from a corporation to a shareholder and the impact of earnings and profits,
- Identify the tax consequences of taxable and tax-deferred acquisitions, liquidations, and other property transactions,
- Determine tax issues of partnership formations, acquisitions, and dispositions as well as income and losses,
- Apply tax rules of S corporation election, termination, and operation, including distributions and filing requirements,
- Explain the tax nexus concept and its application to state income taxes and sales and use taxes,
- Identify the framework for taxing multinational transactions and the role of tax treaties in international tax planning,
- Summarize the operations of federal estate tax and gift tax regimes.
Required Course Materials
Most World Campus courses require that students purchase materials (e.g., textbooks, specific software, etc.). To learn about how to order materials, please see the Course Materials page. You should check LionPATH approximately 3–4 weeks before the course begins for a list of required materials.
Students should familiarize themselves with the materials made available by the U.S. Internal Revenue Service (IRS) on its website (www.irs.gov). There may also be court cases cited, so students should become familiar with how to access these sources as well.
The instructor reserves the right to assign other materials during the semester as appropriate. Consideration will be given to making sure students have adequate time to review these materials.
Library Resources
Many of the University Libraries resources can be utilized from a distance. Through the Libraries website, you can
- access magazine, journal, and newspaper articles online using library databases;
- borrow materials and have them delivered to your doorstep—or even your desktop;
- get research help via email, chat, or phone using the Ask a Librarian service; and
- much more.
You must have an active Penn State Access Account to take full advantage of the Libraries' resources and service. The Off-Campus Users page has additional information about these free services.
Technical Requirements
| Operating System | Canvas, Penn State's Learning Management System (LMS), supports most recent versions of Microsoft Windows and Apple Mac operating systems. To determine if your operating system is supported, please review Canvas' computer specifications. |
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| Browser | Canvas supports the last two versions of every major browser release. It is highly recommended that you update to the newest version of whatever browser you are using. Note: Cookies must be enabled, and pop-up blockers should be configured to permit new windows from Penn State websites. |
| Additional Canvas Requirements | For a list of software, hardware, and computer settings specifically required by the Canvas LMS, please review Canvas' computer specifications. |
| Additional Software | All Penn State students have access to Microsoft Office 365, including Microsoft Office applications such as Word, Excel, and PowerPoint. |
| Hardware | Monitor: Monitor capable of at least 1024 x 768 resolution |
| Mobile Device (optional) | The Canvas mobile app is available for versions of iOS and Android. To determine if your device is capable of using the Canvas Mobile App, please review the Canvas Mobile App Requirements. |
Student Education Experience Questionnaire (SEEQ)
During the semester you will receive information for completing the Student Education Experience Questionnaire (SEEQ). Your participation is an opportunity to provide anonymous feedback on your learning experience. Your feedback is important because it allows us to understand your experience in this course and make changes to improve the learning experiences of future students. Please monitor email and course communications for links and availability dates.
If you need technical assistance at any point during the course, please contact the Service Desk.
For registration, advising, disability services, help with materials, exams, general problem solving, visit World Campus Student Services!
Course Requirements and Grading
| Assignment | Points | Grade percentage |
|---|---|---|
| Discussions | 100 | 10% |
| Connect Assignments | 100 | 10% |
| Connect Quizzes | 100 | 10% |
| Projects (2) | 300 | 30% |
| Exams (3) | 400 | 40% |
| Total | 1,000 | 100% |
Letter grades will be based on the following scale:
| Letter grade | Percentage |
|---|---|
| A | 92.1 - 100% |
| A- | 90.0 - 92.0% |
| B+ | 88.0 - 89.9% |
| B | 82.1 - 87.9% |
| B- | 80.0 - 82.0% |
| C+ | 78.0 - 79.9% |
| C | 70.0 - 77.9% |
| D | 60.0 - 69.9% |
| F | Below 60.0% |
The numeric course grades above are the actual grades required to earn the accompanying letter grades. Students should not expect any rounding of the numeric course grades.
Please refer to the University Grading Policy for Undergraduate Courses for additional information about University grading policies.
If, for reasons beyond the student's control, a student is prevented from completing a course within the prescribed time, the grade in that course may be deferred with the concurrence of the instructor. The symbol DF appears on the student's transcript until the course has been completed. Non-emergency permission for filing a deferred grade must be requested by the student before the beginning of the final examination period. In an emergency situation, an instructor can approve a deferred grade after the final exam period has started. Under emergency conditions during which the instructor is unavailable, authorization is required from one of the following: the dean of the college in which the candidate is enrolled; the executive director of the Division of Undergraduate Studies if the student is enrolled in that division or is a provisional student; or the campus chancellor of the student's associated Penn State campus.
For additional information please refer to the Deferring a Grade page.
Grading Policy
All assignments are to be submitted in the assigned location no later than 11:59 p.m. eastern time (ET) on the due date shown on the Course Schedule. Any late submissions or submissions to other places will be subject to a penalty of 10% (on a 100 scale) per 24-hour period or any portion thereof. No submissions will be accepted after grades have been posted for the class as a whole.
If a student must miss an exam, an alternate time will be scheduled if this is arranged in advance. It is likely that the make-up will be at an earlier time. If an alternate time is not scheduled in advance and an exam is missed, the instructor reserves the right not to allow a make-up exam and to award the zero on the exam which has been earned. In the case of a documented emergency, the instructor must be notified by email or in person within 24 hours of the original exam being concluded and the make-up exam must be completed before the end of the following week. The instructor reserves the right to change the format and questions on the make-up exam from those of the original exam.
Assignments
Timely completion of all assignments is critical to student success. Students should take assignment deadlines seriously and plan in advance to allocate sufficient time to meet deadlines.
The instructor may, at his or her sole discretion, grant limited extensions of time for unexpected business, health, or personal emergencies beyond the student’s control. In order to be granted an extension, the student must make the request in advance of the due date and support the request by a compelling rationale that would be fair to others in the class. The instructor may request documentation. Any such extension will be for a specific period, not to exceed one week.
Class Participation Discussions (10% of the course grade)
Students are expected to participate fully in all assigned discussions. Students who wait until the weekend to participate or who do not contribute something new and unique to the discussion will not receive full credit. “One and Done” is not full participation. Posting a unique response to the question and commenting on the responses of other students is the minimum expectation.
Each student is expected to participate actively and thoughtfully in the assigned Discussion Forum. Students who wait until the weekend to participate or who do not contribute something new and unique to the discussion will not receive full credit. Each week, posting a unique response, commenting on the postings of other students or the instructor, and returning later in the week to comment on the responses of other students is the minimum expectation.
Your original posting in response to the discussion question(s) as well as your responses to your instructor’s and classmates’ postings and responses will be considered as part of your participation grade. Your contributions to the class are valuable and add a different perspective from those who may have posted before you.
Please keep the following guidelines in mind. First, read and respond to discussion topics of the instructor as well as postings and responses by both classmates and the instructor. The discussion topics should not be treated like homework assignments. Think of them as conversations on fascinating tax topics. Ok, maybe that’s an oxymoron. These discussions are the format for conversation between you and everyone else in the class. Second, each Discussion Forum may contain one or more topics. Each week, you are required to post to each topic. Third, there are two graded components to participation, quality, and quantity. Note that a “one liner”/”attaboy” is not a quality response. Rather, a quality response is a thoughtful presentation of an idea, possibly in response to a question or comment posed by either the instructor or another student. It should be a new contribution to the discussion rather than simply a lengthy response.
Because these are akin to conversations, no late postings will be allowed. After all, if you wait until after a conversation is over and the participants have moved on before you make your contribution, nobody gets to benefit from your viewpoints.
Chapter Assignments / Homework (10% of the course grade)
Problems are assigned at the end of each chapter and completed in Connect (see assignments in modules). These problems are to be submitted no later than the due date and time listed. Late submissions are subject to the penalty for late submission found in the section on Grading Policy.
Project (30% of the course grade)
Each student will complete two projects (see assignment in modules). A portion of the grading for the project will be based on clarity and readability. The project is to be submitted to the appropriate assignment in Canvas on or before the due date specified in the Course Schedule. Late submissions are subject to the penalty for late submission found in the section on Grading Policy.
Midterm and Final Exams (40% of the course grade)
There will be two (2) midterm exams during the semester, plus a comprehensive final exam. You must complete the exam in one sitting. See Grading Policy for additional information.
The comprehensive final exam will be given during finals week. You will have the final exam period to complete the exam. Your work must be submitted by the date/time indicated. Due to the required short turnaround time for final course grades, there can be no late submissions or extensions for the final examination so please plan accordingly. Each student must do the work on the final exam without any help from any other person, other than the instructor. See Grading Policy for additional information.
This course may require you to take exams using certain proctoring software that uses your computer's webcam or other technology to monitor and/or record your activity during exams. The proctoring software may be listening to you, monitoring your computer screen, viewing you and your surroundings, recording and storing any and all activity (including visual and audio recordings) during the proctoring process. By enrolling in this course, you consent to the use of the proctoring software selected by your instructor, including but not limited to any audio and/or visual monitoring which may be recorded. Please contact your instructor with any questions.
Honorlock
Honorlock will proctor your exams this semester. Honorlock is an online proctoring service that allows you to take your exam from the comfort of your home. You do not need to create an account or schedule an appointment in advance. Honorlock is available 24/7, and all that is required is a computer, a working webcam/microphone, your ID, and a stable internet connection. See How to Use Honorlock (Student Guide) for an example session.
To get started, you will need Google Chrome and download the Honorlock Chrome Extension.
When you are ready to complete your assessment during the scheduled exam window, log into Canvas, go to your course, select your proctored exam and “Take the Quiz” to start the process. Then read and accept terms, review exam rules, and run the system checks. Select "Launch Proctoring" to begin the Honorlock authentication process, where you will take a picture of yourself, show your ID, and complete a scan of your room. Honorlock will be recording your exam session through your webcam, microphone, and recording your screen. Honorlock also has an integrity algorithm that can detect search-engine use, so please do not attempt to search for answers, even if it's on a secondary device. Also note that you will need to disconnect any external display monitors during the exam and close out of all tabs and windows except for your exam.
Honorlock support is available 24/7/365. If you encounter any issues, you may contact them through live chat on the support page or within the exam itself. Some guides you should review are Honorlock MSRs, Student FAQ, Honorlock Knowledge Base, and How to Use Honorlock. You may also wish to review Penn State's knowledge base article on Honorlock. Good luck!
Course Schedule
Note: All due dates reflect North American eastern time (ET).
The schedule below outlines the topics we will be covering in this course, along with the associated time frames and assignments.
All work to be submitted is due by 11:59 p.m. (ET) on Sunday night of the week it is due, including your last graded Class Participation post and Weekly Assignments. Initial class participation posts are due on Thursday.
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Textbook
Other Materials
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*Initial discussion posts are due on Thursday by 11:59pm ET |
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* No discussion forum this week |
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Textbook
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| Assignments: |
*No discussion forum this week |
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Note: If you are planning to graduate this semester, please communicate your intent to graduate to your instructor. This will alert your instructor to the need to submit your final grade in time to meet the published graduation deadlines. For more information about graduation policies and deadlines, please go to the Graduation Information on the My Penn State Online Student Portal.
Formal instruction will end on the last day of class. Provided that you have an active Penn State Access Account user ID and password, you will continue to be able to access the course materials for one year, starting from the end date of the academic semester in which the course was offered (with the exception of library reserves and other external resources that may have a shorter archival period). After one year, you might be able to access the course based on the policies of the program or department offering the course material, up to a maximum of three years from the end date of the academic semester in which the course was offered. For more information, please review the University Course Archival Policy.
Academic Integrity
The instructor reserves the right to have work submitted, either by students or by the instructor, through Turnitin for review prior to grading.
According to Penn State policy G-9: Academic Integrity , an academic integrity violation is “an intentional, unintentional, or attempted violation of course or assessment policies to gain an academic advantage or to advantage or disadvantage another student academically.” Unless your instructor tells you otherwise, you must complete all course work entirely on your own, using only sources that have been permitted by your instructor, and you may not assist other students with papers, quizzes, exams, or other assessments. If your instructor allows you to use ideas, images, or word phrases created by another person (e.g., from Course Hero or Chegg) or by generative technology, such as ChatGPT, you must identify their source. You may not submit false or fabricated information, use the same academic work for credit in multiple courses, or share instructional content. Students with questions about academic integrity should ask their instructor before submitting work.
Students facing allegations of academic misconduct may not drop/withdraw from the affected course unless they are cleared of wrongdoing (see G-9: Academic Integrity ). Attempted drops will be prevented or reversed, and students will be expected to complete course work and meet course deadlines. Students who are found responsible for academic integrity violations face academic outcomes, which can be severe, and put themselves at jeopardy for other outcomes which may include ineligibility for Dean’s List, pass/fail elections, and grade forgiveness. Students may also face consequences from their home/major program and/or The Schreyer Honors College.
How Academic Integrity Violations Are Handled
World Campus students are expected to act with civility and
personal integrity; respect other students' dignity, rights, and
property; and help create and maintain an environment in which all
can succeed through the fruits of their own efforts. An environment
of academic integrity is requisite to respect for oneself and
others, as well as a civil community.
In cases where academic integrity is questioned, the Policy on Academic Integrity indicates that procedure requires an instructor to inform the student of the allegation. Procedures allow a student to accept or contest a charge. If a student chooses to contest a charge, the case will then be managed by the respective college or campus Academic Integrity Committee. If that committee recommends an administrative sanction (Formal Warning, Conduct Probation, Suspension, Expulsion), the claim will be referred to the Office of Student Accountability and Conflict Response.
All Penn State colleges abide by this Penn State policy, but review procedures may vary by college when academic dishonesty is suspected. Information about Penn State's academic integrity policy and college review procedures is included in the information that students receive upon enrolling in a course. To obtain that information in advance of enrolling in a course, please contact us by going to the Contacts & Help page .
Accommodating Disabilities
Penn State welcomes students with disabilities into the University's educational programs. Every Penn State campus has resources for students with disabilities. The Student Disability Resources (SDR) website provides contacts for disability services at every Penn State campus. For further information, please visit the SDR website.
In order to apply for reasonable accommodations, you must contact the appropriate disability resources office at the campus where you are officially enrolled, participate in an intake interview, and provide documentation based on the documentation guidelines. If the documentation supports your request for reasonable accommodations, your campus's disability resources office will provide you with an accommodation letter. Please share this letter with your instructors and discuss the accommodations with them as early in your courses as possible. You must follow this process for every semester that you request accommodations.
Additional Policies
For information about additional policies regarding Penn State Access Accounts; credit by examination; course tuition, fees, and refund schedules; and drops and withdrawals, please see the World Campus Student Center website.
Counseling and Psychological Services
If you have a crisis or safety concern, mental health services are available to you as a Penn State student. Crisis and emergency contacts are available, no matter where you are located:
- Anywhere in the United States: Call the Penn State Crisis Line at 1-877-229-6400 or text LIONS to 741741. You can also contact your local crisis services or hospital for emergencies.
- Outside the United States: Please contact emergency services in your current location. You can also use the International Crisis and Emergency Services listings.
- At University Park: Assistance is available at Counseling & Psychological Services (CAPS) locations on campus.
- At a Penn State branch campus: You can search for counseling information at your campus.
Veterans and Military Personnel
Veterans and currently serving military personnel and/or dependents with unique circumstances (e.g., upcoming deployments, drill/duty requirements, VA appointments, etc.) are welcome and encouraged to communicate these, in advance if possible, to the instructor in the case that special arrangements need to be made.
Privacy Notice
In order to protect your privacy, course access is limited to those individuals who have direct responsibility for the quality of your educational experience. In addition to the instructor, a teaching assistant or college administrator may be provided access in order to ensure optimal faculty availability and access. World Campus technical staff may also be given access in order to resolve technical support issues.Student Responsibilities and Conduct
- Students are responsible for online course content, taking notes, obtaining other materials provided by the instructor, taking tests (if applicable), and completing assignments as scheduled by the instructor. As a general rule, students should plan on logging into the course at least three times per week and spending at least three hours per course credit per week on the course, e.g., if the course is three credits, the student should plan on spending at least 9-12 hours per week on the course, just as they would in a residence course.
- Students are responsible for keeping track of changes in the course syllabus made by the instructor throughout the semester.
- Students are responsible for monitoring their grades.
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Students must contact their instructor (and teammates when working on any collaborative learning assignments) as soon as possible if they anticipate missing long periods of online time due to events such as chronic illnesses, death in the family, business travel, or other appropriate events. The instructor will determine the minimal log on time and participation required in order to meet course responsibilities. In the event of other unforeseen conflicts, the instructor and student will arrive at a solution together.
- Requests for taking exams or submitting assignments after the due dates require documentation of events such as illness, family emergency, or a business-sanctioned activity.
- Conflicts with dates on which examinations or assignments are scheduled must be discussed with the instructor or TA prior to the date of the examination or assignment.
- Students are responsible for following appropriate netiquette (network etiquette) when communicating with their instructor and classmates. For reference, see the Academic Success Kit.
- Behaviors that disrupt other students’ learning are not acceptable and will be addressed by the instructor.
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For severe and chronic problems with student disruptive behavior, the following will be applied for resolution:
- Senate Committee on Student Life policy on managing classroom disruptions: Office of Student Accountability and Conflict Response.
- Penn State Principles
Report Bias
Penn State takes great pride to foster a diverse and inclusive environment for students, faculty, and staff. Acts of intolerance, discrimination, or harassment due to age, ancestry, color, disability, gender, gender identity, national origin, race, religious belief, sexual orientation, or veteran status are not tolerated and can be reported through Educational Equity via the Report Bias webpage.
Disclaimer: Please note that the specifics of this Course Syllabus are subject to change, and you will be responsible for abiding by any such changes. Your instructor will notify you of any changes.