Federal Tax Accounting

Course Code:

Credit Hours:

Effective beginning:



Course Description:
This course gives a survey of federal income taxation with primary emphasis on the taxation of individuals and corporations.

Course Details




Required textbooks/ course materials:

Required: Income Tax Fundamentals, Whittenburg, Atlas-Buller, and Gill, Cengage, 2022, with Cengage Unlimited Access Code (one-semester access 9780357700006.

Recommended: Income Tax Fundamentals, hardcopy, 2022, 40th ed., Whittinburg, Altus-Buller, and Gill.  Cengage 9780357516386.



Assignment/course outline:

The following topics will be covered in this course at the discretion of the instructor: 

  • Overview of the Tax Structure 
  • Tax Determination, Payments, and Reporting Procedures 
  • Gross Income Inclusions 
  • Gross Income Exclusions and Deductions for AGI 
  • Personal Itemized Deductions 
  • Other Itemized Deductions 
  • Self-Employment 
  • Depreciation and Amortization 
  • Rental Activities 
  • Property:  Basis and Nontaxable Exchanges 
  • Property:  Capital Gains and Losses, and Depreciation Recapture 
  • NOLs, AMT, and Business Tax Credits 
  • Payroll Taxes and Tax Compliance 
  • C Corporations 
  • Partnerships 
  • S Corporations


Discipline-level learning outcomes:

Bachelor of Science in Business Administration degree Learning Outcomes:  

BA-1 Exhibit knowledge of accounting, finance, management, legal, operations and marketing.   

BA-2 Identify MIS, economics, technology, statistical data and decision support tools for making effective business decisions.

BA-3 Recognize the impact of today’s global economy, diversity and cultures on businesses. 

BA-4 Comprehend how effective leadership, teamwork and ethics relate to best business practices.  

BA-5 Use effective oral and written communication skills, including effective research techniques. 


Course-level learning outcomes:

Course-level student learning outcomesDiscipline-level learning outcomesAssessment methods

Propose appropriate filing resources pertinent to corporations.

Formulate exemptions into tax reports and propose the amount of each exemption.

Appraise the appropriate deduction amounts based on the current tax guidance.

Propose all pertinent items to include and what to exclude in determining gross income.

Evaluate the taxability of fringe benefits.

Evaluate and measure the impact of payroll responsibilities and calculations.

Synthesize the steps needed to complete a Schedule C – Business income and Expenses.

Validate the tax impact of Capital gains/losses and operating gains/losses.

Appraise the calculation of depreciation and recapture.

BA-1, BA-2, BA-3, BA-4, BA-5

BA-1, BA-2, BA-3, BA-4, BA-5 

BA-1, BA-2, BA-3, BA-4, BA-5 

BA-1, BA-2, BA-3, BA-4, BA-5 

BA-1, BA-2, BA-3, BA-4, BA-5 

BA-1, BA-2, BA-3, BA-4, BA-5 

BA-1, BA-2, BA-3, BA-4, BA-5 

BA-1, BA-2, BA-3, BA-4, BA-5

Tests, Quizzes, Homework



Means of accomplishing learning outcomes:

  • Attend and participate in class regularly.
  • Read all assigned material before class.
  • Study in-class notes and online (Canvas) materials.
  • Complete assigned projects in a timely manner to enable reflections and revisions on the final product.
  • Participate in discussions.
  • Demonstrate your mastery of the required skills on quizzes, exams, etc.
  • Complete all assignments with promptness and accuracy.
  • All written documents as well as online assignments must be completed using correct grammar, spelling, and structure.

The grading breakdown is subject to change at the discretion of the instructor.


up to 40%

Test (which includes Midterm and Final) 

up to 60%

Assignments, Projects and/or Labs      

up to 40%


up to 20%


College-wide policies and resources

For more specific information on Chipola's college-wide academic policies and resources available to students, visit the link below.