About this Course

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Learner Career Outcomes

50%

started a new career after completing these courses

33%

got a tangible career benefit from this course

17%

got a pay increase or promotion
Shareable Certificate
Earn a Certificate upon completion
100% online
Start instantly and learn at your own schedule.
Flexible deadlines
Reset deadlines in accordance to your schedule.
Intermediate Level
Approx. 28 hours to complete
English
Subtitles: English

Learner Career Outcomes

50%

started a new career after completing these courses

33%

got a tangible career benefit from this course

17%

got a pay increase or promotion
Shareable Certificate
Earn a Certificate upon completion
100% online
Start instantly and learn at your own schedule.
Flexible deadlines
Reset deadlines in accordance to your schedule.
Intermediate Level
Approx. 28 hours to complete
English
Subtitles: English

Offered by

University of Illinois at Urbana-Champaign logo

University of Illinois at Urbana-Champaign

Start working towards your Master's degree

This course is part of the 100% online Master of Science in Accountancy (iMSA) from University of Illinois at Urbana-Champaign. If you are admitted to the full program, your courses count towards your degree learning.

Syllabus - What you will learn from this course

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Week
1

Week 1

1 hour to complete

INTRODUCTION TO THE COURSE

1 hour to complete
3 videos (Total 8 min), 3 readings
3 videos
About Professor Matthew Hutchens1m
About Professor Petro Lisowsky3m
3 readings
Syllabus15m
About the Discussion Forums5m
Update Your Profile5m
4 hours to complete

MODULE 1: AN INTRODUCTION TO TAXATION

4 hours to complete
9 videos (Total 75 min), 6 readings, 10 quizzes
9 videos
Evaluating a Tax System4m
The Tax Structure11m
The Tax Structure: Examples6m
Types of Taxes14m
Origins of Tax Law4m
Statutory Sources of Tax Law6m
Administrative Sources of Tax Law9m
Judicial Sources of Tax Law7m
6 readings
Module 1 Overview and Resources10m
The 2017 Tax Revision15m
Wealth of Nations and AICPA's Guiding Principles of Good Tax Policy (optional)15m
Who Pays Federal Taxes?5m
How Do Marginal Tax Rates Work10m
1862 and 1913 Tax Forms (optional)5m
10 practice exercises
Lesson 1.1 Knowledge Check10m
Lesson 1.2 Knowledge Check10m
Lesson 1.3 Knowledge Check10m
Lesson 1.4 Knowledge Check10m
Lesson 1.5 Knowledge Check10m
Lesson 1.6 Knowledge Check10m
Lesson 1.7 Knowledge Check10m
Lesson 1.8 Knowledge Check10m
Lesson 1.9 Knowledge Check10m
Module 1 Quiz30m
Week
2

Week 2

5 hours to complete

MODULE 2: COMPUTING THE TAX

5 hours to complete
8 videos (Total 72 min), 9 readings, 7 quizzes
8 videos
Deductions and AGI6m
Qualifying Children and Qualifying Relatives - Part 112m
Qualifying Children and Qualifying Relatives Part 212m
Tax Calculation9m
Filing Status10m
Filing Requirements and Other Dependent Issues6m
The "Kiddie" Tax5m
9 readings
Module 2 Overview and Resources10m
Standard Deduction Amounts for 2018 and 201910m
Qualifying Child and Qualifying Relative Tests10m
The Child Tax Credit: Current Law20m
Tax Rate Schedules for 202010m
Tax Rate Schedules for 201910m
Tax Rate Schedules for 201810m
Former Kiddie Tax Rules Restored15m
Overview of the Federal Tax System in 201930m
7 practice exercises
Lesson 2.1 Knowledge Check10m
Lesson 2.2 Knowledge Check10m
Lesson 2.3 Knowledge Check10m
Lesson 2.4 Knowledge Check10m
Lesson 2.5 Knowledge Check10m
Lesson 2.6 Knowledge Check10m
Module 2 Quiz30m
Week
3

Week 3

3 hours to complete

MODULE 3: GROSS INCOME

3 hours to complete
6 videos (Total 59 min), 1 reading, 7 quizzes
6 videos
Accounting Methods6m
Accounting Method Exceptions7m
Gross Income I: Alimony, Discharge of Indebtedness, Annuities11m
Gross Income: Example7m
Gross Income II: Prizes, Life Insurance, Unemployment Compensation, Social Security Benefits11m
1 reading
Module 3 Overview and Resources10m
7 practice exercises
Lesson 3.1 Knowledge Check10m
Lesson 3.2 Knowledge Check10m
Lesson 3.3 Knowledge Check10m
Lesson 3.4 Knowledge Check10m
Lesson 3.5 Knowledge Check10m
Lesson 3.6 Knowledge Check10m
Module 3 Quiz30m
Week
4

Week 4

3 hours to complete

MODULE 4: GROSS INCOME: EXCLUSIONS

3 hours to complete
5 videos (Total 53 min), 2 readings, 6 quizzes
5 videos
Scholarships, Payments for Damages, Compensation for Injuries and Sickness17m
Meals and Lodging, Recovery of Capital Issues10m
Employee Fringe Benefits: Non-Discriminatory11m
Employee Fringe Benefits: Discriminatory5m
2 readings
Module 4 Overview and Resources10m
Sharing "Goodreads"10m
6 practice exercises
Lesson 4.1 Knowledge Check10m
Lesson 4.2 Knowledge Check10m
Lesson 4.3 Knowledge Check10m
Lesson 4.4 Knowledge Check10m
Lesson 4.5 Knowledge Check10m
Module 4 Quiz30m

Reviews

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About the U.S. Federal Taxation Specialization

This Specialization introduces the U.S. federal tax system via conceptual and applied material. Learners will be able to apply basic principles to settings involving individuals, corporations, and other business entities, complete key components of major, individual U.S. federal tax returns, and identify tax-related strategies and implications of structuring transactions and organizations....
U.S. Federal Taxation

Frequently Asked Questions

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