NOTE: Course Update Coming Soon!
We鈥檙e currently updating this course to reflect major changes to U.S. tax law made by the 2025 legislation commonly known as the One Big Beautiful Bill Act. An updated version of the course will launch in late Fall 2025, with revised lessons, examples, and explanations that align with the new law. In the meantime, please note that some content may reflect pre-2025 rules. This course is the first course in a听five-course听US Federal Tax Specialization.听It covers and focuses on the U.S. federal tax system as it relates to individuals, employees, and sole proprietors. Key concepts covered include gross income and items that are statutorily included or excluded in it, personal and business expenses that qualify as tax deductions, and the differing tax treatments for employees versus self-employed taxpayers. Unlike many other introductory courses in tax and as part of this course鈥檚 comprehensive wrap-up, learners will be provided with practical and tangible experience reporting both income and expenses on the main individual tax return used in the US, Form 1040. If you have enjoyed this course, consider enrolling in our online graduate Accounting program. The University of Illinois at Urbana-Champaign, consistently ranked as one of the nation's top three accounting programs, now offers a master鈥檚 in accounting at a very affordable tuition rate and is completely online. The听iMSA听is a full Master of Accountancy program and students graduate with an MS that is highly recognized. Try an open course or two, then apply for admission into the credit-bearing version as you may be eligible to take credit-bearing courses during the application process. If you are missing any prerequisites for the full degree, you can complete 糖心vlog官网观看 courses to demonstrate readiness and strengthen your application for the听iMSA. For more information on this exciting听iMSA听online program, refer to this link:听/degrees/imsa