Covers the development and implementation of tax strategies. Encompasses the application of alternative tax laws to a variety of fact situations. Applies an integrated approach to develop solutions that consider the numerous aspects of wealth maximization. Emphasizing the use of case studies, the course introduces theories and methods of tax research and analysis that include research tools, techniques, and quantitative methods. Students use the college's specialized information technology resources, such as the Accounting Center for Electronic Learning and Business Measurement and the Trading Room as well as public domain and proprietary tax databases. Examines the role and regulation of the tax practitioner and representation of taxpayers before the IRS. Other topics include ethical responsibilities, IRS examination of returns, statutes of limitations, and tax practice strategies and techniques. Promotes teamwork, and emphasizes written and oral presentations.

Deals with property transactions (tangible and intangible) and the ultimate tax consequences. Analyzes transactions to explore the significance of realization and recognition concepts and the characterization of gains and losses. Covers dispositions of property used in a trade or business, and held for personal use or investment, as well as deferred payment transactions. Introduces structuring the reorganization or sale of entire business units in mergers and acquisitions. Examines Internal Revenue Code provisions and selected issues that relate to determining basis, holding period, loss (active and passive) and attribute carryovers. Reviews transactions with the goal of conducting a thorough analysis, exploration of alternatives, and ultimate structuring to assure the desired result.

Addresses the increased importance of international, multistate, and e-business taxation in today's global environment. Introduces students to the principles guiding nexus, geographic allocation of income, and avoidance of double taxation. Develops an understanding of the U.S. tax rules that may apply to income involving the U.S. and another country, and compares these with the multistate tax rules. Deals with the tax implications of business conducted electronically. Students use specialized information technology resources and public domain databases to conduct relevant research. Applies multi-jurisdictional tax principles and rules to real-world case studies.

Provides an in-depth study of pass-through entities and problems peculiar to closely held businesses. Emphasizes students' understanding of the tax statutes, court cases and practice techniques related to the concept of "choice of entity," and creates an awareness of the potential consequences of choosing a particular form of entity. Focuses on the practical (and tax practice) aspects of working with and advising clients on such decisions.

Explores the tax treatment of investment companies and financial products. Introduces the major types of investment and their classification for tax purposes. Focuses on mutual funds, exchange-traded funds, unit investment trusts, separately managed accounts, and offshore funds. Analyzes the applicable special tax provisions in light of the economic function and operation of these entities. Also examines the taxation of financial products such as mutual fund shares.

This course will provide a comprehensive review of the tax issues that arise in merger and acquisition transactions. It will explore all the popular mechanisms for transferring a business - from a taxable sale of assets or corporate stock, to tax-free reorganizations, to contingent "earn out" transactions, to transactions involving an employee stock ownership plan ("ESOP"). The course will examine and prepare the optimal strategies for selling a C or S corporation, an LLC (partnership), and a sole proprietorship. It will examine tax strategies such as purchase price allocations under Code 1060; elections under Code 338(g) and §338(h)(10); the complicated planning strategies for an S corporation subject to the Code §1374 "Sting Tax"; the opportunities and risks of a contingent earn-out structure; the circumstances for a tax-free merger; structuring an investment by and/or sale to private equity investors; and creating a market for a company by selling shares through an ESOP.

Addresses the sources of state and local revenues derived from taxation, including multi-jurisdictional business excise taxes, personal income tax, consumer and transaction taxes, property taxes, and death taxes. Builds on the knowledge base developed in TX 604 Multi-Jurisdictional Taxation. Students examine constitutional restrictions on the jurisdiction to tax; allocation and apportionment of multistate income; state taxation of e-commerce; domicile concepts; and detailed review of administrative provisions related to the audit, assessment, collection and appeal of state and local taxes.

Provides an opportunity for involvement in clinical fieldwork under the supervision of a faculty member. The student prepares and delivers educational workshops to taxpayers, and serves as the primary taxpayer contact in resolving tax controversies. Includes responsibilities to identify, research, resolve and communicate complex tax issues. An additional academic requirement is a tax research paper on a mutually agreed upon topic.