Online Course – Certified Professional Internship in US Federal Taxation from the University of Illinois at Urbana-Champaign

A degree in US Federal Taxation for Individuals and Businesses. The course will provide students with an in-depth understanding of US federal taxation and its applications to individuals and businesses.

Suggested by: Coursera (What is Coursera?)

Professional Certificate

Intermediate level

No prior knowledge required

Time to complete the course

7-day free trial

No unnecessary risks

Skills you will acquire in the course

  • Business communication skills
  • Time management strategies
  • Problem-solving skills
  • Understanding the market and competition
  • project management
  • Data analysis tools
  • Teamwork skills
  • Creative thinking ability
  • Negotiation skills
  • Technological skills

What you will learn in the course

Courses for which the course is suitable

  • Tax expert
  • Tax advisor
  • Accountant
  • Tax Analyst
  • Finance Manager
  • bookkeeper
  • Tax planning expert
  • Financial Planning Manager
  • Tax Department Manager
  • Financial advisor

Internship – a four-part course series

This specialization introduces students to the United States federal tax system through theoretical and applied material. Students will be able to:

  • Apply basic principles in situations involving individuals, companies, and other business entities.
  • Complete key components of US federal tax returns.
  • Identify tax strategies and routes related to transaction and organizational structure.

Applied Learning Project

The courses within this specialization include several projects in each course, including:

  • Preparation of tax reports.
  • Real-life applications of tax principles.

In addition, the final project of this specialization consists of a comprehensive project that reflects key principles from the three basic courses.

Details of the courses that make up the specialization

Federal Taxation I: Individuals, Employees, and Self-Employed Business Owners

  • Course 1 • 30 hours • 4.9 (640 ratings)

Course Details

What You’ll Learn in This course is the first of five courses in the field of United States Federal Taxation. It covers and focuses on the United States federal tax system as it relates to individuals, employees, and self-employed business owners.

Key concepts taught include:
  • Gross income and items that form part of it according to the law
  • Personal and business expenses that are eligible for tax deductions
  • The different tax treatment that exists between employees and self-employed individuals

Unlike other introductory courses in taxation, as part of the course summary, participants will gain hands-on experience reporting income and expenses on the main personal tax form in the United States, Form 1040.

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Skills you will gain
  • Category: Tax Deduction
  • Category: Form 1040 Preparation
  • Category: Personal Taxation
  • Category: United States federal taxation
  • Category: Tax Deductions
  • Category: Self-employed Taxation

Federal Taxation II: Real Estate Transactions of Business Owners and Shareholders

  • Course 2 • 30 hours • 4.9 (183 ratings)

Course Details

What You Will Learn This course examines the United States federal tax system in relation to real estate transactions of business owners and shareholders.

Topics include:
  • Cost recovery, such as depreciation, amortization, and deductions
  • Calculating realized versus recognized gains and losses
  • Estimating the potential tax effects of untaxed exchanges
  • and the addition, or netting, of gains and losses of different types

The tasks allow for self-discovery of knowledge and development of various professional skills.

Skills you will gain
  • Category: Depreciation
  • Category: Capital Gains and Losses
  • Category: Real Estate Taxation
  • Category: Untaxed Exchanges

Taxation of Business Entities I: Corporations

  • Course 3 • 24 hours • 4.7 (224 ratings)

Course Details

What You Will Learn This course provides an introduction to United States federal income taxation for corporations and their shareholders.

The course focuses on the relevant instructions of:
  • Subchapter C of the Internal Revenue Code
  • Finance regulations and relevant judicial opinions

Practical classroom learning problems allow for self-discovery of technical knowledge in the field of taxation along with the development of diverse professional and academic skills.

Skills you will gain
  • Category: Business Analysis
  • Category: Federal Income Taxation
  • Category: Accounting Taxation
  • Category: IRS Regulations
  • Category: Corporate Taxation

Taxation of Business Entities II: Intermediary Entities

  • Course 4 • 33 hours • 4.8 (83 ratings)

Course Details

What You’ll Learn This course offers an introduction to the federal income taxation of intermediary business entities, including Subchapter S corporations, partnerships, and LLCs.

The course focuses on the relevant instructions of:
  • Subchapters S and K of the Internal Revenue Code
  • Finance regulations and relevant judicial opinions

Practical classroom learning problems allow for self-discovery of technical knowledge in the field of taxation along with the development of diverse professional and academic skills.

Skills you will gain
  • Category: Business Analysis
  • Category: Federal Income Taxation
  • Category: Accounting Taxation
  • Category: IRS Regulations
  • Category: Taxation of intermediary entities