2017-2018

Tax (TAX)

Courses

TAX 600. Individual Income Taxation. 3 Credit Hours.

This course examines the federal tax statutes, regulations, rulings, and leading cases applicable to individual and other tax papers, with special emphasis placed upon understanding the federal income tax system and the source of tax law. Areas covered include definition of gross income, deductions, nonbusiness and business taxpayers, the identity of the taxable person, and accounting methods and periods.

Fall 2017TAX 600AG1693W6:00pm - 9:00pm(D. Beausejour)
Summer 2018TAX 600AG4421T6:00pm - 9:00pm(D. Beausejour)

TAX 605. Sales and Exchanges of Property. 3 Credit Hours.

This course studies tax consequences arising from disposition of property using a detailed analysis of the treatment of capital gains, deferred payment sales, basis, amount realized, dispositions by gift of inheritance, nonrecognition exchanges, mortgages, and installment sales. Time is also devoted to the study of recapture provisions of the Internal Revenue Code.

TAX 610. Corporations and Shareholders. 3 Credit Hours.

This course examines the taxation of corporations and shareholders. Emphasis is placed on corporate formations, the corporate capital structure, stock redemptions, and accounting for income taxes. Various types of corporate distributions are also examined in detail.

TAX 615. Estate and Gift Taxation. 3 Credit Hours.

This course examines federal estate and gift taxes through an intense study of statutes, regulations, and case law, and explains practical applications in estate planning.

TAX 620. Tax Practice and Procedure. 3 Credit Hours.

This course reviews the administration of the Internal Revenue Code by the Internal Revenue Service and other federal tax agencies. Students will study procedural problems with respect to treasury regulations, requests for administrative rulings, assessment of deficiencies and penalties, closing agreement, tax liens, civil and criminal cases, transferee liability, claims for refund, information conferences, and hearings before the appellate Division of the IRS and the Tax Court of the U.S.

Spring 2018TAX 620AG3677M6:00pm - 9:00pmTBD

TAX 625. Partnership Income Tax Problems. 3 Credit Hours.

This is an intensive analysis of income tax problems encountered in the organization, operation, reorganization, and dissolution of partnerships. it Includes recognition of partnership status for tax purposes and problems created by death or retirement of a partner, sale of a partnership interest, and distribution of partnership assets, and determination of the amount and nature of partner's share in partnership income or loss.

Fall 2017TAX 625AG1695Th6:00pm - 9:00pm(L. Witner)
Summer 2018TAX 625AG4422Th6:00pm - 9:00pm(L. Witner)

TAX 640. Advanced Income Tax Problems. 3 Credit Hours.

This course addresses advanced roblems of corporations and shareholders. Topics include accumulated earnings tax, personal holding companies, complete liquidations (one month and one year), collapsible corporations, S corporations, liquidation of subsidiaries, affiliated and controlled groups, and consolidated return problems, plus an overview of corporate reorganization.
Prerequisites: ACG 351, TAX 610, or MPAC 650.

Fall 2017TAX 640AG1694M6:00pm - 9:00pm(D. Casten)

TAX 672. Income Taxation of Trusts and Estates. 3 Credit Hours.

This course covers income taxations of trusts or estates, plus the tax treatment of grant or trusts, income in respect of a decedent, assignment of income, and accumulation trusts.

Spring 2018TAX 672AG3678Th6:00pm - 9:00pmTBD

TAX 673. Pension and Profit Sharing. 3 Credit Hours.

This is a intensive analysis of tax implications of deferred compensation; emphasis on qualified and unqualified pension and profit-sharing plans including eligibility and participation of employees, funding, benefits, and plan administration (including fiduciary responsibility). Also considers IRAs, Roth IRAs, Section 88 restricted property, statutory stock options, and other alternatives to qualified plans.

TAX 674. Corporate Reorganizations. 3 Credit Hours.

This course is a study of mergers and acquisitions that combine different corporations, the special problems or transactions that result in the division of a single corporation, provisions of the Internal Revenue Code that relate nonrecognition of gain or loss, and the treatment of basis and boot. Landmark cases and leading judicial doctrines that deal with the need for business purpose and continuity of interest are examined.
Prerequisites: ACG 351, TAX 610 or MPAC 650.

TAX 675. Business Tax Planning. 3 Credit Hours.

This course presents business problems to which students find classroom solutions after independent or group research. Topics discussed include the formation of corporations with consideration given to securities, professional service corporations, dividends, stock redemptions, and the purchase and sale of businesses. Actual and hypothetical fact patterns are used by students to plan and structure transactions. A student is given a set of facts that is used to conduct a business as a sole proprietorship, a partnership, or a corporation and eventually to liquidate this entity.
Prerequisites: ACG 351, TAX 610 or MPAC 650.

Summer 2018TAX 675AG4423M6:00pm - 9:00pmTBD

TAX 676. Multi State Taxation. 3 Credit Hours.

Various states have adopted revenue-raising statutes that vary from income taxes, franchise taxes, license taxes and business profits taxes. A company doing business in more than one state must develop tax planning strategies that can reduce its overall state tax burden. This requires an understanding of the wide disparity of methods used to determine a state’s taxable income and the tax rates imposed on that income. This course examines the tax structure in the State of Rhode Island. In addition, it covers nexus and its role in multi-state taxation. It discusses the sales, payroll, and property appointment factors used to allocate income amongst the states; the unitary method of state taxation; domicile concepts; and state taxation of e-commerce. The Uniform Division of Income for Tax Purposes Act and the Multistate Tax Compact will also be covered.

TAX 677. Estate Planning. 3 Credit Hours.

This course provides intensive consideration of the marital deduction, lifetime gifts, use of trusts, selection of trustees, valuation problems, apportioning the tax burden, charitable deduction, deferred compensation plans, and life insurance.

Fall 2017TAX 677AG1696T6:00pm - 9:00pm(T. Simpson)

TAX 678. International Taxation. 3 Credit Hours.

This course covers the special tax rules that apply to cross-border transactions between the United States and its trading partners. The U.S. taxation of foreign- source income earned by U.S. taxpayers (outbound taxation) and the U.S. taxation of U.S.-source income earned by foreign taxpayers (inbound transaction) is studied in detail. Topics include: sourcing of income and deductions; transfer pricing; extraterritorial income exclusion; subpart F income and the foreign tax credit.
Prerequisites: ACG 351, TAX 610 or MPAC 650.

Summer 2018TAX 678AG4424W6:00pm - 9:00pmTBD

TAX 691. Directed Independent Study in Tax. 3 Credit Hours.

This course is designed to allow an individual academic program to be tailored to fit the unique interests of a graduate student, the faculty member and the student will develop an academic plan that is submitted to the College of Business for final approval.