Course Description

This course offers students a basic, but comprehensive, overview of the theory of the federal tax system and the ethics of working within the system including the filing responsibilities of the tax payer, penalties, and tax rate structure including the difference between the marginal and average tax rates. The course focuses on statutory sources of tax authority, administrative tax authority, and Treasury Regulations. Revenue rulings and revenue procedures are explained. Students have the opportunity to apply and demonstrate understanding of IRS requirements for enrolled agents and sanctionable acts, rules and penalties, explain Power of Attorney, how to build taxpayers’ case preliminary work based on their financial situations, and advise taxpayers on how to maintain supporting documents. Taxpayer representation in the collecting process, audits and examination, appeals, and penalties and/or interest abatement are explained along with the filing process/deadlines, including accuracy, record maintenance, and electronic filings.