The LLM in Taxation degree requires the successful completion of 24 credit hours, including five required courses, with no more than one grade of D and a cumulative average of at least 2.3 in all courses taken. Full-time students must complete the degree requirements in two consecutive academic semesters (with the exception of students pursuing the 32 credit bar qualification option or the extended LLM with English classes option); part-time students must complete the degree requirements in no more than eight consecutive semesters. Where there is good cause, the Graduate Tax Program Committee may extend either period.
Upon request, a student with appropriate tax backgrounds may be excused from taking a required, prerequisite, or corequisite course. A candidate who has done graduate work in taxation at another approved law school may be granted up to 6 credits of advanced standing in the program at the Graduate Tax Program Committee’s discretion.
No thesis is required; however, students interested in undertaking a writing project under the supervision of a faculty member can do so either by taking a seminar or by arranging an independent research project. Additionally, a student may supplement the Program with courses at other Boston University graduate or professional schools, such as Metropolitan College. Upon application, credit for these courses may be given toward the LLM degree.
The Graduate Tax Program uses a letter grading system. The range of letter grades and their weight for purposes of determining a student’s cumulative average are:
A+ = 4.3 A = 4.0 A- = 3.7
B+ = 3.3 B = 3.0 B- = 2.7
C+ = 2.3 C = 2.0 C- = 1.7
D = 1.0 F = 0
Concentrations and Emphasis Areas
Starting in Fall 2016, students in the Tax LLM Program can earn a formal concentration in Estate Planning, which will appear on their final transcript. Students can also pursue a number of emphasis areas as part of their LLM studies. For more information, please review the courses included in the Estate Planning Concentration and/or Emphasis Areas.
Federal Income Taxation I: LAW TX 901
This course presents a general introduction to the fundamentals of federal income tax, emphasizing issues common to individual taxpayers (but not including the federal income tax aspects of the acquisition, ownership, and disposition of property, which are the subject of Federal Income Taxation II). Topics include an overview of the federal tax system; gross income, inclusions, and exclusions; identity of the proper taxpayer; concepts and categories of deductions; and basic timing principles.
FALL 2016: LAW TX 901 A1 , Sep 6th to Dec 6th 2016
FALL 2016: LAW TX 901 OL , Sep 6th to Dec 6th 2016
SPRG 2017: LAW TX 901 A1 , Jan 19th to Apr 20th 2017
SPRG 2017: LAW TX 901 OL , Jan 19th to Apr 20th 2017
Federal Income Taxation II: LAW TX 902
Federal income tax aspects of the acquisition, ownership, and disposition of property. Topics include: 1.Realization and recognition, 2.Basis and amount realized, 3.The effects of debt (including its cancellation), 4.Depreciation and amortization, 5.At risk, not for profit, and passive activity loss deductibility limitations, 6.Capital gains and losses, related party transactions, quasi-capital assets and depreciation recapture, and 7.Deferred payment transactions (original issue discount and installment sales). Prerequisite or corequisite: Federal Income Taxation I.
FALL 2016: LAW TX 902 A1 , Sep 7th to Dec 7th 2016
FALL 2016: LAW TX 902 OL , Sep 7th to Dec 7th 2016
SPRG 2017: LAW TX 902 A1 , Jan 23rd to Apr 24th 2017
SPRG 2017: LAW TX 902 OL , Jan 23rd to Apr 24th 2017
Tax Practice & Procedure: LAW TX 907
Structure of the U.S. tax system; administration of the Internal Revenue Code by the Internal Revenue Service; ethics of tax practice and the regulation of tax practitioners; study of the administrative processing of tax returns; handling of audits, statutes of limitations, assessment of deficiencies and penalties, claims for refund, hearings before the Appeals Office, closing agreement, tax liens, tax collection procedures and civil and criminal aspects of tax fraud. Introduction to aspects of litigation in the Federal District Court, U.S. Court of Federal Claims, and U.S. Tax Court.
FALL 2016: LAW TX 907 A1 , Sep 8th to Dec 8th 2016
FALL 2016: LAW TX 907 OL , Sep 6th to Dec 12th 2016
SPRG 2017: LAW TX 907 A1 , Jan 23rd to Apr 24th 2017
SPRG 2017: LAW TX 907 OL , Jan 23rd to Apr 23rd 2017
Partnership Tax I: LAW TX 930
Presents an overview of subchapter K and the federal income tax treatment of partnerships and other entities, such as limited liability companies;. Topics include tax classification of a partnership versus a corporation or trust; considerations in choice of entity;basic partnership accounting and capital accounts, partnership formation and acquisition of partnership interests for property or services; determination of basis;basic rules allocations of income and loss ; taxation of normal partnership operations; distributions of cash and property; transactions between partners and partnership, including sales of partnership interests. Prerequisite or corequisite: Federal Income Taxation I and II, Introduction to Corporate Tax
FALL 2016: LAW TX 930 A1 , Sep 6th to Dec 6th 2016
FALL 2016: LAW TX 930 OL , Sep 6th to Dec 12th 2016
SPRG 2017: LAW TX 930 A1 , Jan 19th to Apr 20th 2017
SPRG 2017: LAW TX 930 OL , Jan 17th to Apr 26th 2017
Introduction to Corporate Tax: LAW TX 933
Income tax considerations relating to transfers of assets and liabilities to a corporation (during incorporation and otherwise), non-liquidating distributions, stock redemptions, related party stock purchases and corporate liquidations. Includes an overview of the treatment of a corporate shareholder versus other shareholders. Prerequisite or corequisite: Federal Income Taxation I and II
FALL 2016: LAW TX 933 A1 , Sep 7th to Dec 7th 2016
FALL 2016: LAW TX 933 OL , Sep 6th to Dec 12th 2016
SPRG 2017: LAW TX 933 A1 , Jan 17th to Apr 25th 2017
SPRG 2017: LAW TX 933 OL , Jan 17th to Apr 25th 2017