Courses

The listing of a course description here does not guarantee a course’s being offered in a particular term. Please refer to the published schedule of classes on the MyBU Student Portal for confirmation a class is actually being taught and for specific course meeting dates and times.

• LAW TX 907: Tax Practice and Procedure
  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. JD students are not permitted to enroll in the online section of any tax courses without receiving prior approval from the Assistant Dean for Graduate, International, and Online programs.
• LAW TX 910: Family Governance
  The proposed Family Governance course will examine the need for family governance when dealing with generational wealth and how family harmony (or other family goals) can be achieved through different structures and principles of family governance. The primary focus of the course will be a "fairness" model including the rule of law for family decision making that aims to further the accumulation and use of generational wealth, which may include shareholder agreements, family constitutions, family councils, family offices, private trust companies, charitable trusts, foundations, etc. The course will follow a multinational case study with many family governance issues, so that students can apply the concepts to the case study and consider how each structure may benefit or hinder the goals of the family. This course will be most beneficial to students looking to work in the estate planning field or with closely held business interests. JD students are not permitted to enroll in the online section of any tax courses without receiving prior approval from the Assistant Dean for Graduate, International, and Online programs.
• LAW TX 913: Tax Law of Accounting Methods
  Examination of a broad range of subjects related to accounting methods and periods. Topics include principles of income recognition, prepaid income, claim of right, cash equivalency, and constructive receipt, special methods involving long-term contracts, depreciation, timing of deductions, estimated expenses, prepaid expense, expense versus capitalization, and conformity between tax and financial accounting. Prerequisite or corequisite: Federal Income Taxation I. JD students are not permitted to enroll in the online section of any tax courses without receiving prior approval from the Assistant Dean for Graduate, International, and Online programs.
• LAW TX 914: Standards and Responsibilities
  This course will consider the statutory, regulatory, and ethical standards and requirements applicable to tax practice and the tax lawyer's particular responsibilities in tax planning, preparation and advocacy. Students will be provided with an understanding of these requirements so that they may be recognized and applied in practice. There will be a focus on Circular 230, guidelines provided by the American Bar Association and tax return preparer rules.
• LAW TX 917: Taxation of Financial Products: Policy and Theory
  This course explores the financial characteristics and income taxation of financial instruments, with an emphasis on both policy and theory. We start with the building blocks of debt and equity, move on to the "derivatives" level of options and notional principal contracts (swaps), and conclude with exotica such as currency products. In each instance we will first look at the financial characteristics of the security (after the fashion of an MBA offering in corporate finance), and then study the tax rules governing each class of instrument. Because discounting (net present value) and "pay off" diagrams are so central to an understanding of financial instruments, the course incorporates a rigorous study of these mathematical tools. Also, when studying the tax rules applicable to financial products, we focus on the fundamental building blocks of taxation -- amount, timing, character, and source -- to reveal underlying policy and theory tensions that go to the very root of our income taxation system. The course is intended to complement TX 949 Taxation of Financial Products: Principles and Application, and may be taken either prior or subsequent to that class or on a stand alone basis. Pre or Co-requisite: Federal Income Taxation I and II. JD students are not permitted to enroll in the online section of any tax courses without receiving prior approval from the Assistant Dean for Graduate, International, and Online programs.
• LAW TX 918: Life Cycle of a Business Venture
  The federal income tax laws significantly affect the way a business venture proceeds through the various stages of its life cycle. This course will explore the federal income tax aspects of: i) choosing the proper form of entity (typically, C corporation, S corporation or LLC) to carry on a business, ii) forming the entity that will carry on the business and issuing equity interests (and rights to acquire equity interests) in the entity to founders and other service providers, iii)financing the entity with debt and equity, iv) reporting the results of the entity's operations, v) purchasing and leasing assets, vi) buying out owners, vii) selling the business. Co- and prerequisites: Federal Income Taxation I, Federal Income Taxation II, Introduction to Corporate Tax and Partnership Tax I. JD students are not permitted to enroll in the online section of any tax courses without receiving prior approval from the Assistant Dean for Graduate, International, and Online programs.
• LAW TX 919: International Reporting and Withholding
  International information reporting and withholding are the future of tax work. They are a source of revenue for the IRS through penalties and a source of anxiety for many tax practitioners, especially with the expanded reporting requirements newly enacted as part of the TCJA. A strong grounding in international information compliance and withholding transactions can benefit every practitioner from the estate planner to the corporate tax advisor. This course will cover the reporting requirements for US taxpayers who hold non-US assets, and the withholding requirements when US payors make payments to non-US persons. Students will become familiar with the various forms associated with different assets, such as the Foreign Bank Account Report ("FBAR") which is used to report foreign assets. We will cover how and when to file, the basics of how to prepare the form, and the penalties for noncompliance. The course will comprehensively cover informational reporting forms to report all foreign assets including closely held business interests, foreign trusts, and the receipt of gifts from non-US persons. We will discuss how the Foreign Account Tax Compliance Act ("FATCA") created a worldwide network of information about non-US assets, and what individuals and fiduciaries need to know to remain compliant. Finally, in addition to covering the reporting associated with non-US ties, we will discuss withholding under Chapter 3 of the Internal Revenue Code and identify when and how to withhold US tax from payments to non-US entities and non-US persons. JD students are not permitted to enroll in the online section of any tax courses without receiving prior approval from the Assistant Dean for Graduate, International, and Online programs.
• LAW TX 920: Tax Aspects Buying and Selling Business
  A comprehensive course on how business owners can buy and sell businesses with a minimum tax cost and maximum after-tax return. The strategies for selling a business are often implemented from the moment the business entity is originally formed. The course will examine the crucial strategies, from choice of entity, to conducting ongoing operations, to the correct way to change or restructure existing C corporations, S corporations and other entities. The course will also examine the best way to structure a sale of a particular business, based on both the form of legal entity and on the specific facts in a case. For example, the course will compare a sale of stock to a sale of assets; will compare a sale for cash to a tax free transaction or part-cash, part-stock transaction; and compare the differences between a sale with immediate payment versus a possible installment sale. Prerequisites: Federal Income Taxation I and Federal Income Taxation II. JD students are not permitted to enroll in the online section of any tax courses without receiving prior approval from the Assistant Dean for Graduate, International, and Online programs.
• LAW TX 924: Corporate Reorganizations
  Income tax considerations relating to corporate tax free reorganizations including: review of the requirements for tax free treatment of acquisitive and time permitting divisive reorganizations; review of the tax treatment to all relevant parties to the transaction; consideration of special problems associated with certain types of reorganizations. Prerequisite: Introduction to Corporate Tax. Note: Limited enrollment. JD students are not permitted to enroll in the online section of any tax courses without receiving prior approval from the Assistant Dean for Graduate, International, and Online programs.
• LAW TX 925: Executive Compensation
  Study of the tax and ERISA aspects of various forms of executive compensation. Topics include traditional fringe benefits and deferred compensation arrangements, incentive and non-qualified stock option and restricted stock plans, stock appreciation rights, excess benefit arrangements, rabbi trusts, golden parachute agreements, split-dollar insurance arrangements, and special issues for tax-exempt organizations. JD students are not permitted to enroll in the online section of any tax courses without receiving prior approval from the Assistant Dean for Graduate, International, and Online programs.
• LAW TX 926: Exempt Organizations
  This course examines the formation, organization, operation and tax aspects of tax-exempt entities including charitable organizations, private foundations and various other tax-exempt entities such as healthcare organizations, social clubs, business leagues, trade associations, fraternal organizations and arts organizations. The course will analyze the following topics: the rationale for federal tax-exempt status; general considerations in organizing tax-exempt entities, including selection of appropriate form and methods of obtaining and maintaining tax-exempt status; distinctions between non-profit and tax exempt status; income taxation of exempt organizations; structuring relationships with nonprofit affiliates and for profit business organizations; liability and responsibility of agents, officers and directors; prohibited transactions; the taxation of unrelated business taxable income; private benefit/private inurement; intermediate sanctions; fundraising; political activities; and considerations in acquisitions, mergers and liquidations of exempt organizations. Pre or Co-Requisite: Federal Income Tax I. JD students are not permitted to enroll in the online section of any tax courses without receiving prior approval from the Assistant Dean for Graduate, International, and Online programs.
• LAW TX 930: Partnership Tax
  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. JD students are not permitted to enroll in the online section of any tax courses without receiving prior approval from the Assistant Dean for Graduate, International, and Online programs.
• LAW TX 933: Introduction to Corporate Tax
  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. JD students are not permitted to enroll in the online section of any tax courses without receiving prior approval from the Assistant Dean for Graduate, International, and Online programs.
• LAW TX 934: Advanced Estate Planning
  This course picks up the estate planning course (TX 935) leaves off. We will survey several "cutting edge" estate planning techniques-techniques that permit the transfer of large amounts of wealth at little or no gift tax or estate tax cost. We will zero in on valuation rules that apply to the estate tax and gift tax; we will discuss what to look for in appraisals; we will examine, in depth, the current status of planning involving family partnerships and LLCs; we will examine the rules that apply to GRATs, installment sales to "defective" grantor trusts, and how to structure transfers using these techniques; we will review the biases built into the actuarial valuation rules that the Internal Revenue Service requires us to apply; we will examine the effects of the UPC, the Uniform Trust Code, and will consider "decanting"; we will discuss some of the psychological aspects of estate planning including issues presented by parents' fears of making their children too wealthy too soon; and we will discuss trust design and the choice of trustees. There is no final exam but students will be required to write a 10 -- 15 page term paper. In addition there will be several quizzes throughout the semester. Prerequisite: Estate Planning and Estate and Gift Tax Recommended: Taxation of Trusts and Fiduciaries. JD students are not permitted to enroll in the online section of any tax courses without receiving prior approval from the Assistant Dean for Graduate, International, and Online programs.
• LAW TX 935: Estate Planning
  This course will examine in depth the theoretical and practical aspects of a variety of estate planning strategies currently being used in the real world. The primary focus of the course will be on federal income, estate, gift, and generation skipping transfer tax issues which arise in the estate planning context, although other planning issues, including professional ethics, will also be considered. The course will use case studies of specific tax driven planning strategies, including grantor trusts, marital deduction trusts, post- mortem planning, and planning for incapacity. Prerequisite or corequisite: Federal Income Taxation I and Estate and Gift Tax. JD students are not permitted to enroll in the online section of any tax courses without receiving prior approval from the Assistant Dean for Graduate, International, and Online programs.
• LAW TX 937: Taxation of Trusts and Fiduciaries
  Income tax consequences arising upon the death of a decedent and special income tax treatments of estates, trusts, and fiduciaries. Topics include determination of gross income and allocation between the decedent and the estate or trust; special problems with income in respect of a decedent; separate and conduit taxation of estates and trusts; allocation of tax attributes between an estate or trust and its beneficiaries; grantor trust rules, and other topics. Prerequisite: Federal Income Taxation I. JD students are not permitted to enroll in the online section of any tax courses without receiving prior approval from the Assistant Dean for Graduate, International, and Online programs.
• LAW TX 939: Outbound International Tax
  This course examines the current outbound international tax rules, but will demonstrate that the law in this area is more than a collection of those rules. It is instead a process, ever evolving, to address its various contexts and constituencies. We will examine the relevant contexts -- Constitutional, international (WTO, OECD) and commercial -- and will engage in class discussions applying the rules within those frameworks. The objective is for students to gain enough grounding in the rules to start a path toward mastery, and to understand the drivers behind the rules so that students can apply them as they exist today, and analyze changes as they occur in the future. Pre or co- requisite: Tax Aspects of International Business (recommended)
• LAW TX 950: Tax Aspects of Charitable Giving
  Charitable gift planning has long been a crucial component in wealth management and estate planning. It remains an important factor in the "tool box" of estate and tax professionals. While humanitarian commitments remain the primary motivating force behind private philanthropy, the tax benefits associated with charitable strategies and techniques have assumed greater importance as our system of taxation has grown increasingly complex. This course will examine the federal tax implications (income tax, gift tax, estate and generation skipping transfer tax, and capital gains tax) of key strategies associated with charitable gift planning for incorporation into the overall estate plan. Topics covered will include types of charitable entities, requirements of a charitable gift, charitable alternatives (private foundations, donor advised funds and supporting organizations), split interest transfers (charitable remainder and lead trusts), bargain sales, gifts of complex assets, and testamentary transfers. Case studies will be used to illustrate optimal intervivos and testamentary planning for creating flexibility while avoiding pitfalls. None. Recommended: Federal Income Taxation I, Federal Income Taxation II and Estate and Gift Taxation. JD students are not permitted to enroll in the online section of any tax courses without receiving prior approval from the Assistant Dean for Graduate, International, and Online programs.
• LAW TX 951: US Transfer Pricing
  This course examines the US transfer pricing system. A close reading of the Code and regulations will be expected as well as a detailed consideration of the major transfer pricing decisions. There is no other assigned text. The theme of this course is to bring students to an understanding of how the law has developed in this area focusing closely on the interplay between case law and regulatory enactments. Students should expect to encounter a reasonable amount of supporting economic and accounting analysis as they work their way through the course, and come to an appreciation of how this area of the tax law relies considerably on the blending of these three analytical perspectives. JD students are not permitted to enroll in the online section of any tax courses without receiving prior approval from the Assistant Dean for Graduate, International, and Online programs.
• LAW TX 952: Comparative VAT
  This course considers the details of the world's leading Value Added Tax system, the E.U. VAT. Students should expect to acquire a good grounding in the major legal instruments of the community (regulations, directions and decisions) which have binding effect on the member states as well as the recommendations and opinions which do not. Case law will be considered primarily from the leading decisions of the European Court Justice, although an occasional decision or two from domestic courts will be included. Major developments in the E.U. VAT are expected to be covered, including: (1) the adoption of the "reverse charge" mechanism as a response to widespread carousel fraud, (2) the inclusion of a transfer pricing regime under Rationalization Directive, and (3) proposals for major changes in the place of supply rules in services and intangibles. There are no pre-requisites for this course. JD students are not permitted to enroll in the online section of any tax courses without receiving prior approval from the Assistant Dean for Graduate, International, and Online programs.