Course Descriptions

Fall 2013 LLM in Taxation Class Descriptions

Advanced Business Planning (Richard A. Shaw)
LWTE505

2 credit(s)
Concentration(s): LLM in Taxation (LLMT)
Prerequisite(s): Tax I or its equivalent, Corporations or its equivalent (at the JD level)

The course consists of a series of planning problems that arise in connection with the formation and operation of a corporation. Attention will be directed to the corporate law, securities law and tax law issues related to each event with emphasis placed on active class participation in problem solving and selection of alternative solutions. For each seminar meeting there will be ungraded homework assignments directed to issues raised with each problem. The final examination will consist of a 72 hour take-home examination and problem.

Note: This is an advanced tax course with priority enrollment for LLM in Taxation students.

Criminal Tax Fraud (Richard Carpenter)
LWTE512

2 credit(s)
Concentration(s): LLM in Taxation (LLMT)
Prerequisite(s): Tax I

This course examines the type of conduct which can trigger the imposition of criminal tax charges. We will review the various Title 26 tax crimes (including tax evasion, tax perjury, failing to file, aiding and assisting), Title 18 tax crimes (including false claims, false statements and conspiracy), and Title 31 tax crimes (including currency reporting requirements). We will also review the various methods of proof used by prosecutors and also discuss the various defenses available, along with federal sentencing guidelines and related civil tax issues.

Note: This is an advanced tax course with priority enrollment for LLM in Taxation students.

ERISA & Employee Benefit Plans (David P. Wolds)
LWTE518

2 credit(s)
Concentration(s): LLM in Taxation (LLMT)
Prerequisite(s): Tax I

This course will consider Title I of the Employee Retirement Income Security Act of 1974, as amended, and its implications for employee benefit plan administration and litigation. Attention will be devoted to fiduciary conduct, investment management concerns, reporting and disclosure rules, federal preemption of state laws, and employees benefit claim and fiduciary litigation. Tax I is a prerequisite. LLM in Taxation students may take Tax I concurrently.

Note: This is an advanced tax course with priority enrollment for LLM in Taxation students.

Federal Estate & Gift Taxation (Miranda Perry Fleischer)
LWTE530

3 credit(s)
Concentration(s): LLM in Taxation (LLMT)
Prerequisite(s): Tax I

This survey course provides an introduction to the federal estate, gift, and generation-skipping transfer taxes, with attention to the treatment of various types of inter vivos and testamentary dispositions. Students who enroll in this course should already have taken Tax I (Federal Income Taxation).Trusts & Estates is recommended but not required.

Federal Tax Clinic I (Richard Carpenter)
LWVL555

2-4 credit(s)
Requirement: Skills
Concentration(s): LLM in Taxation (LLMT)
Prerequisite(s): Tax I

This is a hands-on clinical course for students who wish to develop tax controversy skills. Students working under the supervision of the Tax Clinic supervising attorney will represent low income taxpayers in resolving their tax disputes with the IRS. Students will learn client interviewing skills, how to interact with IRS personnel, and how to effectively resolve a client’s federal tax dispute. Students must also be available to participate in Tax Clinic Outreach presentations at various community locations and times. The clinic is graded on a 4-tier Pass-Fail basis. Prerequisite: Tax I.

Federal Tax Clinic II (Richard Carpenter)
LWVL556

2-4 credit(s)
Requirement: Skills
Concentration(s): LLM in Taxation (LLMT)

This is a hands-on clinical course for students who wish to develop tax controversy skills. Students working under the supervision of the Tax Clinic supervising attorney will represent low income taxpayers in resolving their tax disputes with the IRS. Students will learn client interviewing skills, how to interact with IRS personnel, and how to effectively resolve a client’s federal tax dispute. Students must also be available to participate in Tax Clinic Outreach presentations at various community locations and times. The clinic is graded on a 4-tier Pass-Fail basis. Prerequisite: Tax I.

Federal Tax Procedure (Gordon L. Gidlund)
LWTE535

2 credit(s)
Concentration(s): LLM in Taxation (LLMT)
Prerequisite(s): Tax I, Tax II

A study of the administrative procedures with reference to the audit of tax returns; information-gathering; practice before the IRS; pre-litigation administrative procedures; U.S. Tax Court litigation and rules of practice; settlement procedures and trial strategies; tax refund litigation, including preparation of claims for refund, jurisdictional prerequisites, and strategies; preparation of ruling requests; offers in compromise; collection; penalties and interest; and criminal tax investigations. Prerequisites: Tax I and Tax II. Note: Tax LLM students may take Tax II concurrently.

Note: This is an advanced tax course with priority enrollment for LLM in Taxation students.

Finance & Accounting for Lawyers (Brian P. Brinig)
LWBC555

2 credit(s)
Concentration(s): LLM in Taxation (LLMT)

Much of the practice of law relates to financial issues. This two-credit course deals with understanding and analyzing financial statements, basic business valuation techniques and their importance in litigation matters, economic damages calculations (both personal injury and business damages), and concepts of present value. Understanding these financial concepts is critical to lawyers who encounter them daily in their practices. The course is designed for the student who does not have a sophisticated background in accounting or finance.

International Taxation (Dennis Lilly)
LWTE539

3 credit(s)
Concentration(s): LLM in Taxation (LLMT)
Prerequisite(s): Tax I
Recommended Class(es): Tax II

This basic course in international taxation will focus on the principles relating to the taxation of foreign persons (individuals as well as legal entities) by the United States and the U.S. taxation of income received by U.S. individuals and entities from activities abroad. Topics will include principles of international tax jurisdiction; rules relating to the source of income and deductions; the foreign tax credit; Section 482 and transfer pricing; foreign currency translations; international double taxation treaties and an introduction to controlled foreign corporations. This is an advanced tax course with priority enrollment for LLM in Taxation students.

Note: Students who have taken OUTBOUND INTERNATIONAL TAX PLANNING (Pugh) and/or TAXATION ON INTERNATIONAL TRANSACTIONS (Lazerow) are not eligible to enroll in this course.

Partnership Tax (Victor Fleischer)
LWTE545

3 credit(s)
Concentration(s): LLM in Taxation (LLMT)
Prerequisite(s): Tax I

This course considers the federal tax consequences of entity classification of partnership and limited liability companies; formation of a partnership; basis of partnership interests and assets; effect of liabilities on basis; allocation of income and deductions; partnership elections; continuation, merger, and termination of partnerships; family partnerships; sales and exchanges of partnership interests; liquidating and non-liquidating distributions; retiring partners; and pertinent policy considerations. Tax I is a prerequisite.

State Income Tax Clinic I (Craig Shaltes)
LWVL560

2 credit(s)
Requirement: Skills
Concentration(s): LLM in Taxation (LLMT)

This litigation clinic, also known as the "Taxpayer Appeals Assistance Program (TAAP) - Franchise and Income Tax," is a joint effort between the USD Legal Clinics and the California State Board of Equalization (BOE). Under supervision of an attorney from the BOE's Taxpayer Rights Advocate Office, students assist taxpayers with state income tax disputes against the California Franchise Tax Board (FTB). Students receive legal practice skills training, including gathering and identifying evidence, drafting legal briefs, and representing clients/taxpayers in negotiations with the FTB and at oral hearings before the BOE.

State Income Tax Clinic II (Craig Shaltes)
LWVL561

1-2 credit(s)
Requirement: Skills
Concentration(s): LLM in Taxation (LLMT)
Prerequisite(s): Tax I

This litigation clinic, also known as the "Taxpayer Appeals Assistance Program (TAAP) - Franchise and Income Tax," is a joint effort between the USD Legal Clinics and the California State Board of Equalization (BOE). Under supervision of an attorney from the BOE's Taxpayer Rights Advocate Office, students assist taxpayers with state income tax disputes against the California Franchise Tax Board (FTB). Students receive legal practice skills training, including gathering and identifying evidence, drafting legal briefs, and representing clients/taxpayers in negotiations with the FTB and at oral hearings before the BOE.

State Sales & Use Tax Clinic I (Michael J. Larkin)
LWVL562

2 credit(s)
Requirement: Skills
Concentration(s): LLM in Taxation (LLMT)

This clinic is a joint effort between USD Legal Clinics and the California State Board of Equalization (BOE). Under the supervision of an attorney from the BOE’s Taxpayers' Rights Advocate Office, students will represent clients who are appealing California Sales and Use Tax determinations (tax bills). Students will have the opportunity to gain practical legal skills including client interview and counseling, evidence gathering, preparing legal briefs, and actual negotiation with auditors and attorneys. Furthermore, when necessary, students will have the opportunity to represent clients in a litigation setting at Appeals Conferences (informal hearings) and Oral Hearings (similar to court trials).

State Sales & Use Tax Clinic II (Michael J. Larkin)
LWVL563

1-2 credit(s)
Requirement: Skills
Concentration(s): LLM in Taxation (LLMT)

This clinic is a joint effort between USD Legal Clinics and the California State Board of Equalization (BOE). Under the supervision of an attorney from the BOE’s Taxpayers' Rights Advocate Office, students will represent clients who are appealing California Sales and Use Tax determinations (tax bills). Students will have the opportunity to gain practical legal skills including client interview and counseling, evidence gathering, preparing legal briefs, and actual negotiation with auditors and attorneys. Furthermore, when necessary, students will have the opportunity to represent clients in a litigation setting at Appeals Conferences (informal hearings) and Oral Hearings (similar to court trials).

Tax II (Victor Fleischer)
LWTE560

3 credit(s)
Concentration(s): LLM in Taxation (LLMT)
Prerequisite(s): Tax I

The course involves a study of the basic concepts of federal income taxation of C corporations and their shareholders, including organization of corporations; cash and stock dividends; redemptions of stock; partial and complete liquidations; sales of corporate businesses and reorganizations. Taxation of corporations is compared with taxation of partnerships, limited liability companies and S corporations. The emphasis is on careful analysis of Code provisions, Treasury Regulations, other administrative materials and important judicial decisions in relation to problems that are frequently assigned in advance of class discussion.

Note: This is a required course for the Business and Corporate Law Concentration (JD).

Tax Research & Communication (R. Anthony Bauman, Susan Shaler)
LWTE580

3 credit(s)
Concentration(s): LLM in Taxation (LLMT)
Prerequisite(s): Tax I

This course involves an intensive examination of federal tax research techniques, including an evaluation of legislative history and administrative authorities. Students are required to research and prepare complex tax documents such as protests, opinion letters, memoranda of law, and Tax Court petitions. The course may not be counted toward the LLM if the candidate elects to write a thesis. Enrollment is limited to 12 students (no JDs) with priority to 1) December graduates and 2) full-time students.

Note: This class is restricted to LLM students only.

Taxation of Anti-Money Laundering (Sanford Horowitz)
LWTE581

1 credit(s)
Concentration(s): LLM in Taxation (LLMT)
Prerequisite(s): Tax I

This course examines the Anti-Money Laundering and Asset Forfeiture laws utilized to dismantle ongoing criminal enterprises. We will review the various money laundering offenses under Title 18, anti-money laundering programs under the Bank Secrecy Act, and civil and criminal asset forfeiture. We will also review various defenses available to defendants and federal sentencing guidelines. Prerequisite: Tax I. Grade determined by in-class final exam.

Note: This is an advanced tax course with priority enrollment for LLM in Taxation students.

Taxation of Property Transactions (Phillip L. Jelsma)
LWTE575

2 credit(s)
Concentration(s): LLM in Taxation (LLMT)
Prerequisite(s): Tax I (LLM students may take this concurrently)

This course examines practical planning opportunities involving closed sales, open sales, deferred payment reporting, installment sales elections, imputed interest, cost recovery reporting, two-way and three-way real estate exchanges, all-inclusive trust deeds, subordinated financing, midpoint refinancing, and negative basis. Considerable emphasis is placed on understanding interest concepts such as mortgage annual constant percentages, lump sum and annuity present value analysis, and real rate of return (after inflation) analysis.


Note: This is an advanced tax course with priority enrollment for LLM in Taxation students.

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