Master of Taxation Course Descriptions

June 2014

6200:628 Tax Research

This course develops research competence in federal, international, estate, and gift tax laws. Students use various methods to research real tax cases and issues, with an emphasis on analytical and critical thinking as well as written communication and presentation skills. Using contemporary electronic resources and traditional paper products, the course covers the primary sources of tax law, the Internal Revenue Code, and administrative and judicial interpretations. This research class also gives students an opportunity to examine ethics and professional responsibility issues of interest to legal and accounting professionals who are practicing in the tax area.

6200:629 Tax Crimes and Forensics

This course provides students with knowledge of tax related crimes charged under the provisions of the Internal Revenue Code and Titles 18 and 31 of the United States Code, including, but are not limited to, the traditional tax evasion and false return charges, along with money laundering and currency transaction crimes. Also addressed are forfeiture provisions relating to criminally-derived property; related civil procedures dealing with terminations and jeopardy assessments; and sentencing guideline topics, including the computation of tax loss. The course provides students with the knowledge necessary to be an effective participant on a criminal tax defense team. It also provides the knowledge needed to perform the forensic and legal work that accountants and attorney are expected to perform in criminal tax cases.

6200:631 Corporate Tax I

This course provides a detailed examination of tax problems of corporations and their shareholders. Topics covered include tax consequences of the formation of a corporation, operational alternatives, distributions from a corporation to its shareholders, redemptions of stock, liquidations of corporations, and penalty taxes. Tax planning techniques involving these transactions are discussed.

6200:632 Taxation of Transactions in Property

This course examines and analyzes capital gains and losses; Section 1231 gains and losses; the limitations on loss deductions, including the passive activity loss and at-risk rules; the treatment of non-recourse debt as part of the amount realized and the adjusted basis of property; the amortization of intangible assets, such as goodwill and going concern; the tax consequences of involuntary conversions and like-kind exchanges; debt workouts, including the cancellation of indebtedness; and various other topics related to the taxation of property transactions. Tax planning techniques and strategies related to property transactions are discussed.

6200:633 Estate and Gift Taxation

This course analyzes provisions of federal estate and gift tax laws and tax consequences. It covers inter vivos gifts; annual exclusion; gift-splitting; charitable contributions; powers of appointment; retained interests; jointly owned property; life insurance proceeds; annuities and employee death benefits; marital deduction; credits; valuation problems; and estate tax deductions.

6200:641 Taxation of Partnerships

This course examines extensively provisions of Subchapter K of the Internal Revenue Code and uses of partnerships for tax planning. It covers tax treatment of partnership income in the hands of the partners; the conduit rule; problems associated with the formation, operation, and dissolution of the partnership; sale of the partnership interest; withdrawal and retirement of partners; basis adjustments; unrealized receivables and substantially appreciated inventory.

6200:642 Corporate Tax II

This course is a continuation of Corporate Tax I (631) and includes the study of Subchapter C of the Internal Revenue Code with a major focus on corporate reorganization. It covers specific issues of operating in the corporate form; carryovers of tax attributes; and limitations on carryovers. It also covers A, B, C, D, and E reorganizations which include corporate split-offs and spin-offs.

6200:643 Tax Accounting

This course focuses on the timing of income and expenses for individuals, businesses and their relation to tax planning. It considers the intricacies of the tax accounting rules and their contrast to financial accounting. It includes cash and accrual methods of accounting; inventory identification and valuation; tax depreciation; installment sales; interest expense; accounting methods and practice changes; net operating losses; long-term contracts; and income tax allocation for financial reporting. Extensive coverage of ASC 740.  

6200:645 Advanced Individual Tax

This course offers an in-depth study of some of the more involved areas of income taxation that are not included in other graduate taxation courses that cover individual taxation. Among regularly covered topics are passive activity income and losses; interest income and expense; and the Alternative Minimum Tax. Other current and timely taxation topics are covered depending on the taxation climate and situation.

6200:646 Consolidated Tax Returns

Intensive study of tax provisions covering the use of consolidated tax returns. Covers methods used by multiple related corporations to report income and losses; impact of corporate combination and separation; and timing problems. Explores consolidated tax return law, including concept and history; eligibility to file; and consolidated basis adjustments.

6200:647 Qualified Pensions and Profit Sharing

This course examines the nature, purpose, and operations of various forms of deferred compensation with much emphasis on pension and profit sharing plans. An in-depth study of the Internal Revenue Code provisions relating to qualified deferred compensation. This course is geared toward an understanding of the rules required for plan qualification with emphasis on qualified plan planning for various forms of businesses.

6200:648 Tax Practice and Procedure

This course gives an in-depth study of the administration and procedures of the Internal Revenue Service and the responsibilities and ethics of the tax practitioner. Covers legal and practical aspects of Treasury regulations; administrative rulings; closing and compromise agreements; deficiency and jeopardy assessments; tax collections; civil penalties; rights and privileges of the taxpayer; waivers; and refund claims.

6200:649 State and Local Taxation

Examines common types of taxes imposed by state and local governments. Analyzes the tax treatment, tax problems, and tax planning techniques of businesses engaged in multistate activities. Emphasis is on Ohio law with substantive discussion of other states. Addresses the sources of state and local revenues derived from taxation including business excise taxes, state sales and use taxes, property taxes, and personal income taxes. Covers state taxation of e-commerce, domicile concepts, assessments; collection; and appeals of state and local taxes.

6200:650 Estate Planning

Considers the entire process of planning the estate with due regard for disposition of property, tax minimization, liquidity requirements, and administrative cost. Examines general legal principles related to estate planning, lifetime giving (including utilization of the annual exclusion and alternate forms of wealth transfers); martial deductions planning (including QTIP elections, use of formula clauses); gifts to charity; use of life insurance in estate planning; planning for generation skipping transfers; advising clients of all ages; and post mortem planning.

6200:651 International Taxation

Examines United States taxation of foreign income of domestic corporations, citizens and residents, as well as United States income of nonresident aliens and foreign corporations. Introduction to U.S. international taxation with emphasis on inbound and outbound transactions. Topics covered include taxation of U.S. citizens abroad; individuals and corporations with resident and nonresident alien status; the concept of income effectively connected with U.S. trade or business; controlled foreign corporations; foreign tax credits; inter-companies pricing and allocation; and apportionment of domestic expense.

6200:652 Tax-Exempt Organizations

This course examines in detail the different types of tax exempt organizations and the relevant income taxation procedures, laws and regulation that apply to them. Major components of the course will include such topics as prohibited transactions; unrelated business income; debt-financed income exposure; tax exemptions; reviews, appeals and court challenges; social policy and challenges to tax exempt status including discrimination and civil rights; charitable contributions; and tax planning and strategy implications.

6200:662 S Corp Taxation

This course offers an in-depth study of Subchapter S of the Internal Revenue Code. Explores the tax treatment, problems, and planning techniques of the formation; operation; and termination of S corporations, including eligibility; election; revocation; termination; and accounting rules.

6200:693 Selected Topics in Taxation

Provides study in contemporary issues in taxation, including advanced international tax topics that are not covered in current courses. Opportunity to study and write in any area agreed upon between the student and a member of the faculty. The student is required to produce a written work of publishable quality to receive a final grade for the course. Provides opportunities for students who have specific projects in mind.