Curriculum: MS Taxation

December 13, 2019
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curriculum icon Curriculum at a Glance

For the MS in Taxation online, the 30 hour curriculum includes 16 semester credit hours of required tax courses that span topics related to corporate, individual and other entity structures and 14 semester credit hours of electives to satisfy degree requirements. All courses are 2 credit hours and run 7 weeks. Please note, this is subject to change based on university discretion.

For conditionally admitted students that need to complete basic business knowledge (BBK) coursework, your academic adviser will share the courses chosen for your specific needs. Topics covered in BBK courses for MS Taxation include Economics, Management, Finance and Accounting.

To register for these courses, students should be enrolled in the College of Business and enrolled in one of the following programs: Masters of Science, Doctoral or a Graduate Certificate.

Students may be able to selectively substitute elective courses to match specific career interests, subject to the approval of the Program Director.

The proposed schedule is a guide and is subject to change based on curriculum modifications and faculty availability. To learn more about our course offerings, review a sample of our curriculum.

Individual Tax: Structure

Examines topics in the area of individual federal income taxation including but not limited to: income (active, passive, portfolio), adjustments to income, adjusted gross income (AGI) and deductions limited by AGI, personal exemptions, filing status, itemized deductions, taxable income and the regular income tax calculation.

Individual Tax: Special Topics

Examines advanced topics in the area of individual federal income taxation including but not limited to: property transactions, minimum tax, investment interest expense limitations, charitable contributions, property settlements, and tax shelters.

Corporate Tax: Formation & Structure

Covers the Federal income tax consequences of the creation and operation of a C corporation with a detailed treatment of corporate nonrecognition rules for asset transfers to new and existing corporations. Various planning techniques are explored to minimize Federal income tax during the incorporation and capitalization phases. Practical aspects of corporate tax computations and tax return preparation issues. Special corporate taxes imposed against C corporations are also examined.(Credit cannot be earned for both ACCT 6072 and ACCT 8031.)

Corporate Tax: Life Cycle Strategies

Exploration of the distributions that corporations may make during their life cycle, from a federal income taxation perspective. Coverage of specific concepts and principles contained in Subchapter C of the Internal Revenue Code of 1986, as amended. Also coverage of relevant provisions contained in U.S. Treasury Regulations, decisions of the U.S. Tax Court, decisions of other federal judicial cases, and Internal Revenue Service administrative pronouncements. Specific emphasis is also placed on advanced planning to minimize federal income tax liabilities.

Corporate Tax: Attributes & Operational Considerations

Concentrates on the tax principles and laws involving the survival and transfer of corporate tax attributes, allocations between affiliated corporations, abusive tax shelters, statutory limitations with net operating losses and capital losses, acquisitions to evade or avoid federal income taxes, and limits on using pre-acquisition losses to offset built-in gains. Coverage the specific concepts and principles contained in Subchapter C of the Internal Revenue Code of 1986, as amended. Coverage of relevant provisions contained in U.S. Treasury Regulations,decisions of the U.S. Tax Court, decisions in other federal judicial cases, and Internal Revenue Service administrative pronouncements. Specific emphasis is also placed on advanced planning to minimize federal income tax liabilities.

Taxation of Subchapter S Corporations

Investigation of the Federal income taxation of a specialized class of corporation known as an S corporation. Detailed examination of the shareholder and corporate quality and quantity rules required to make an S corporation election. A review of election mechanics and election revocation rules and the determination of the items that are identified on the S corporation tax return and passed through to its shareholders. Coverage of shareholder basis rules that are important in determining shareholder tax consequences. Introduction of entity level taxes along with planning techniques used to minimize the Federal income tax impact of these entity level taxes.

Federal Tax Research: Individuals

This course provides MS Tax students with an in-depth coverage of proper tax research procedures, a survey of the sources of authority, both primary and secondary, and application to practical situations. Students will discuss, research and write about a variety of individual tax issues, ones that don’t require any prior knowledge of individual tax. In addition to individual tax research, students will study issues related to working with the IRS.

Federal Tax Research: Corporations

This course provides students with an in-depth coverage of proper tax research procedures, a survey of the sources of authority, both primary and secondary, and application to practical situations. Students will discuss, research and write about a variety of corporate tax issues, ones that don’t require any prior knowledge of corporate tax. In addition to corporate tax research, students will study issues related to tax planning and tax practice.

Partnership Taxation

Income tax consequences of the formation, operation, and termination of a partnership; partnership distributions; sale of a partnership interest; and withdrawal from a partnership.

International Taxation

Study of the federal income tax provisions applicable to foreign income of U. S. citizens, residents, and corporations and to foreign persons with U. S. income.

Consolidated Tax Returns

This course covers the federal tax treatment of consolidated groups. It will cover the qualifications to be considered a consolidated group, as well as intercompany transactions, loss disallowance rules, limitations regarding the utilization of "purchased" net operating losses, carryovers of NOL's and other attributes related to NOL's. Additional topics will include planning opportunities unique to consolidated groups, stockbasis calculations and elections that are available to consolidated groups

International Tax: Special Topics

Addresses US tax issues associated with doing business outside the US. US multi-national companies face a complex system of tax compliance,and this course will explore some of these issues.

IRS Tax Practice and Procedure

An extensive study of the organization of the Internal Revenue Service with emphasis on the practices and procedures available to and used by the Service in its daily dealings with the taxpaying public.

State and Local Taxation

Examines structure of state and local laws involving property, sales and use, franchise, and corporate income taxes on the firm operating in either a single or multi-jurisdictional environment.

Estate and Gift Tax

Intensive study of federal taxation of estates and transfer of property rights by gift. Determination of the gross estate, taxable estate, taxable gift,and gift tax.

Accounting for Income Taxes

The purpose of the course is to provide students with comprehensive coverage of the requirements and planning issues related to accounting for income taxes. We will cover the preparation of tax provisions of varying complexity and discuss the financial reporting and tax aspects of this complex process. We will also analyze published financial statements to explore how well companies adhere to the requirements of FAS 109.

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