Topics covered include: Basic Federal Income Tax Structure; Classification of Taxpayers; Purpose of the Income Tax Return and Income; Estimated Tax; Who Must File a Return; Getting Started on Preparing the Return; Gross Income; Standard Deduction; Paying the Tax; Filing the Return; Tax Accounting - Accounting Periods and Methods. Upon completion of this course, you should be able to: Describe the basic federal income tax structure; Identify who is required to file a return; Describe the basic parts of the income tax return; Describe payment options for taxes owed; Discuss the concepts of tax year and accounting method.