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Dec 03, 2024
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ACCT 273 - Volunteer Income Tax Assistance (Vita) Service
PREREQUISITES: Successful completion of ACCT 205 - Income Tax and IRS VITA Certifications at both Basic and Advanced Levels.
PROGRAM: Accounting
CREDIT HOURS MIN: 3
LECTURE HOURS MIN: 3
DATE OF LAST REVISION: Fall, 2014
This volunteer program prepares students to process both federal and state income tax returns for eligible citizens. Students will complete an IRS-developed VITA training program for two levels of service - Basic and Advanced. This level of training will permit the volunteer to prepare most individual tax returns. Student volunteers will be required to successfully pass the IRS VITA Certification Tests for two levels of tax preparation service. Once certified, student volunteers will conduct interviews with VITA clients, prepare both the federal and state tax returns using IRS eFile software, and undergo a Quality Review Process to ensure accurate and acceptable tax returns for electronic filing in addition to providing tax information and tax law to VITA clients.
MAJOR COURSE LEARNING OBJECTIVES: Upon successful completion of this course the student will be able to:
- Apply knowledge gained from successful completion of ACCT 105: Income Tax course by preparing and electronically filing federal tax returns.
- Discuss tax return with taxpayer to ensure the taxpayer understands what is being submitted to the IRS on his/her behalf.
- Understand the operation of a professional office.
- Develop appropriate level of professionalism with peers, supervisor and public.
- Utilize tax software package to produce and file accurate federal income and state income tax returns.
- Perform IRS requirement of the Quality Review function of the tax office to correct errors prior to e-filing.
- Learn to correct IRS rejected returns.
- Communicate effectively using correct Standard English, both orally and in writing by participating in debriefing sessions and completing assigned papers.
- Correctly complete the appropriate state income tax return.
COURSE CONTENT: Topical areas of study include -
- Identify appropriate federal tax forms
- Determination of tax
- Tax filing status
- State income tax returns
- Gross income: inclusions and exclusions
- Payment options for balances due
- Determination of taxable income
- Use of standard vs. itemized deductions
- Professionalism
- Common tax credits (EIC, education, dependent care, etc.)
- Tax Research Problem
Course Addendum - Syllabus (Click to expand)
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