MASTERS TAXATION (MTAX)

This course provides an overview of the challenges faced in designing, administering, and monitoring a modern tax system, including the use of incidence of taxation to encourage or discourage certain activities.

Audit professionals are frequently called upon to review the income tax accrual contained in audit work papers. This course focuses on the basic and some of the more common complexities encountered in accounting for income taxes under ASC Topic 740, Income Taxes. This course is designed for students in the MTAX program.

This course explores the federal taxation of subchapters C and S corporations and their shareholders.

This course deals with the federal Income tax fundamentals of partnership and limited liability company taxation. The course covers formation of, operation of, and distribution from partnership and LLC’s, and provides contrast to the problems associated with corporate operations.

This course explores the taxation of gratuitous transfers of wealth during life and at death, including the federal estate, gift and generation skipping transfer taxes.

This course will survey several important areas related to the federal income taxation of property transactions. Emphasis will be on federal income tax treatment of sales and other dispositions of property, including deferred payment sales and non-recognition transactions. Potential specific topics include depreciation, the effect of debt on basis and amount realized calculations, characterization, limitations on loss allowances, like kind exchanges, involuntary conversions, installment sales and leasing.

This course focuses on the basics of state income taxes, property taxes, and other state and local taxes. In addition, the effect of state and local taxes on multi-state operations is discussed.

This course explores the requirements of various tax-exempt organizations under the Internal Revenue Code and related compliance obligations with a particular focus on advising tax-exempt clients.

This course covers the basics of the taxation of foreign income of U.S. citizens and corporations, and of U.S. source income of foreign persons and corporations. In addition, there is discussion of planning for organization of foreign operations under the tax laws.

This course examines theory of various tax systems how they affect taxpayers.

This course studies a wide range of tax procedure and IRS practice, including an analysis of the laws pertaining to tax procedure an how the IRS interprets and applies those laws. The course will include descriptions of how the IRS operates. Suggested techniques for representing clients before the IRS are also presented.

Through a deep investigation of landmark cases in taxation, this course looks at the impact the judiciary has had in shaping tax law today.

This course explores the federal income taxation of estates and trusts, including the fundamentals of fiduciary accounting.

This course examines the tax and business planning aspects of taxable and nontaxable transfers of businesses and real estate. Particular attention will be given to planning whether to use asset sales or stock sales, structuring financing for acquisitions and techniques for compensating investors. The course will also explore the taxation of partnerships, S corporations and limited liability companies and their special application to corporate and real estate acquisitions.

The Volunteer Income Tax Assistance (VITA) program is an Internal Revenue Service (IRS) initiative to serve low-to moderate-income individuals, persons with disabilities, the elderly, and limited English speakers with filing their annual income tax returns. In this service learning course, students must pass the IRS certification and serve at a local VITA site.

This course encompasses a study of tax research methodology, tax policy, and tax practice. Topic areas include various tax research techniques, tax administration and professional responsibilities, as well as international taxation.

The Federal Tax Clinic course offers students an exciting opportunity to become engaged in federal tax controversies involving the Internal Revenue Service and in the United States Tax Court. Students represent low-income clients in IRS examination and collection matters, including audits, offers in compromise, penalty abatements, innocent spouse claims, appeals, Tax Court cases, etc. Through case work and clinic experience, the students will have the opportunity to develop and refine skills in client interviewing, negotiations, research and advocacy.

Directed Study requires permission of program director. Zagweb registration is not available.

Relevant work experience is required that is commensurate with a student's professional interests. Guidelines and criteria are available from the School of Business Administration Internship Director.

Topic to be determined by department.