Introduction to Income Tax Preparation and United States Fiscal Policy

Catalog description

This course includes an academic component and a community service component. The academic component of the course will focus on several areas: 1) Statutory tax system. Students will learn about the tax system as it relates to individuals and sole proprietors. The VITA training covers general tax preparation, with a specific focus on tax credits available to VITA-eligible taxpayers and the use of VITA software. 2) Social policy debate. Tax policy, including deductions, subsidies, and credits, are one tool that lawmakers can use to get more cash in the hands of individuals and families, especially for low-income groups. Students will consider the effectiveness and usefulness of tax policies relative to other tools that the government has available. 3) Working with people. Volunteering with VITA requires students to work with people from a low-income community on the sensitive issue of personal finances. Students will learn to discuss sensitive financial issues with lower-income adults (including many seniors) through readings and in-class discussions, and by reflecting on their real-life experiences in the local community. This skill is important in a variety of roles such as healthcare (physicians and nurses), business (e.g., the HR function), and education. The community service component of the course is volunteering with VITA, which is the IRS’s “Volunteer Income Tax Assistance” program. Following training, students will perform tax services for the Philadelphia community during the 20XX tax season.