TAX 620 Tax Accounting
This course will provide the participant with an in-depth analysis of the Code, Regulations, Rulings and Cases governing tax accounting issues. Areas covered include accounting periods and methods (including cash, accrual and installment sales), inventory rules, debt-forgiveness, time-value of money concepts and required adjustments for changes in accounting methods. Materials are introduced via lecture, open class discussion and review of selected case studies.
Annually, 3 credits

TAX 625 Federal Taxation of Estates, Gifts and Trusts
A detailed study of the gift and estate tax provisions of the Internal Revenue Code is covered. An introduction to the income taxation of trusts and estates is also provided.
Bi-Annually, 3 credits

TAX 726: Tax Strategies and Business Decisions
This course includes an examination of how taxes impact the business environment and affect management decision-making. Using a planning approach, students learn how to adapt to constantly changing tax rules and assess their future impact. The objective of the course is to provide the student with a framework to assess and predict how taxes affect business activities and participants, including customers, suppliers, employees, investors, and competitors. M.S. in Taxation students and M.S. in Accountancy students in the taxation concentration may not receive credit for this course.
On Occasion, 3 credits

TAX 729 State and Local Taxation
In-depth analysis of "Nexus," Uniform Division of Income for Tax Purposes Act, the unitary principle, the multi-state taxes compact regulations and P.L. 86-272. Various landmark Supreme Court decisions pertaining to multi-state taxation are discussed. Emphasis is placed on New York State Income, Franchise and Sales Taxes for those entities doing business in New York State.
Bi-Annually, 3 credits

TAX 760 Tax Research
Sources of Legislative, Administrative and Legal precedents are discussed. Utilization of IRS publications, tax reporters, and judicial and statutory authority is explained. An introduction to computer-based tax research tools and techniques is included. Several research projects using these materials are required. Written and oral techniques for presenting research results are discussed. The presentation of a written research paper is required.
Annually, 3 credits

TAX 762 Procedures and Practices in Federal Taxation
Among topics considered are preparation of tax returns, due dates and extensions, techniques for gathering information and preparation of returns, statute of limitations, tax examinations, appeals procedures in the IRS, request for rulings, collection matters, tax fraud, and professional responsibility of taxpayer's representatives.
Annually, 3 credits

TAX 771 Corporate Taxation
This course reviews the tax aspects of corporate formations, including corporate characteristics, transfers to controlled corporations, corporate capital structure, the income tax calculations for corporate entities and elections. Topics covered include corporate stockholder relationships, corporate distributions, corporate redemptions and partial liquidation, collapsible corporations, accumulated earnings and personal holding companies.
Prerequisites: TAX 620, TAX 760
Annually, 3 credits

TAX 772 Corporate Reorganizations and Consolidations
Coverage includes reorganizations, recapitalization, acquisitions and disposal of assets, mergers, acquisitive and divisive reorganizations as well as corporate tax attributes.
Prerequisite: TAX 771
Bi-Annually, 3 credits

TAX 773 Consolidated Returns
This course deals with the principles and mechanics of consolidated returns including eligibility, computation of consolidated tax liability, inter-company transactions, inventory adjustments, basis of property, net operating losses, earnings and profits and separate return limitations.
Prerequisite: TAX 771
On Occasion, 3 credits

TAX 775 Partnerships and Limited Liability Entities
A study of Subchapter K of the Internal Revenue Code and regulations pertaining to that Subchapter. The tax problems associated with partnership formation, operation, liquidation and distributions are covered. Acquisitions of a partnership interest, problems associated with a partner's guaranteed payment, optional basis adjustment of partnership property and other current materials are examined. The tax ramifications of Limited Liability Companies (LLC) and Partnerships (LLP) are discussed.
Prerequisites: TAX 620, TAX 760
Bi-Annually, 3 credits

TAX 776 Subchapter S Corporations
This course is an in-depth study of the federal tax ramifications of operating the S Corporation. The election, operation, termination and special rules associated with the S Corporation status are examined. Tax planning for the S Corporation is also emphasized.
Prerequisite: TAX 771
Bi-Annually, 3 credits

TAX 777 Estate Planning
In general, this course covers Estate planning techniques for the individual. The course includes study of the factors to be considered in planning an estate, including life insurance, trusts, specific legacies, provisions for protection of a going business, and estate and gift tax provisions of the Internal Revenue Code, especially with respect to marital deduction, powers of appointment, exemptions, and jointly owned property
Prerequisite: TAX 625
Bi-Annually, 3 credits

TAX 779 Tax Exempt Organizations
In this course, the tax laws governing the creation and operation of tax exempt organizations are studied. Compliance requirements governed by the Internal Revenue Service are also reviewed.
Prerequisites: TAX 620, TAX 760
Bi-Annually, 3 credits

TAX 780 Fundamentals of Qualified Employee Benefit Plans
This course is an in-depth study of ERISA. The course is geared towards an understanding of the pension and profit-sharing rules required for plan qualification. Emphasis is placed upon the establishment of a qualified plan for both incorporated and unincorporated forms of business.
On Occasion, 3 credits

TAX 788 International Taxation
This course covers the taxation of United States persons investing or doing business abroad and nonresident aliens and foreign corporations having nexus with the United States. Topics covered include, among others, the foreign tax credit, Subpart F income, controlled foreign corporations, tax treaties, sourcing rules and expatriate taxation.
Prerequisite: TAX 771
Bi-Annually, 3 credits

TAX 790 Seminar in Current Developments in Taxation
Current trends in federal taxation are analyzed. Tax cases, rulings and new developments are examined for their significance to tax practitioners.
Prerequisite: Completion of required taxation core.
On Occasion, 3 credits

TAX 791 Independent Study
Directed independent reading and research projects in an area selected by the student with the approval of a faculty member sponsor. The student is expected to prepare a substantial integrative written report at the conclusion of the semester.
Prerequisite: Permission of the Director of the School of Professional Accountancy
On Occasion, 3 credits