Fall 2013 LLM in Taxation Core Curriculum Class Descriptions
LWTE505 Advanced Business Planning (Richard A. Shaw)
2 credit(s)
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.
LWTE512 Criminal Tax Fraud (Richard Carpenter)
2 credit(s)
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.
LWTE518 ERISA & Employee Benefit Plans (David P. Wolds)
2 credit(s)
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.
LWTE526 Ethics for Tax Professionals ( Staff)
2 credit(s)
Ethics for Tax Professionals presents professional ethical problems that new tax attorneys will be facing. The course will explore the roles and responsibilities for tax attorneys as they advise their clients on numerous tax matters, and when representing clients before the IRS. The course will also review the various controlling doctrines as they pertain to practicing tax law, and other unique professional responsibility issues in a problem solving environment. The course will be graded on weekly assignments and a take-home final exam.
Note: This is an advanced tax course with priority enrollment for LLM in Taxation students.
LWTE530 Federal Estate & Gift Taxation ( Staff)
3 credit(s)
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.
LWVL555 Federal Tax Clinic I (Richard Carpenter)
2-4 credit(s)
Requirement: Skills
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.
LWVL556 Federal Tax Clinic II (Richard Carpenter)
2-4 credit(s)
Requirement: Skills
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.
LWTE535 Federal Tax Procedure (Gordon L. Gidlund)
2 credit(s)
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.
LWBC555 Finance & Accounting for Lawyers (Brian P. Brinig)
2 credit(s)
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.
LWTE539 International Taxation (Dennis Lilly)
3 credit(s)
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.
LWTE545 Partnership Tax ( Staff)
3 credit(s)
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.
LWVL560 State Income Tax Clinic I (Craig Shaltes)
2 credit(s)
Requirement: Skills
This Tax Appeals Assistance Program is a joint effort between USD Legal Clinics and the California State Board of Equalization. Under the supervision of an attorney from the California Taxpayers’ Rights Advocate Office, students will assist taxpayers with their state tax appeals. Students receive legal practice skills training, including interviewing clients, identifying evidence, drafting appeals briefs, and representing clients in negotiations with the State Board and at hearing. The clinic is graded on a 4-tier Pass-Fail basis. No prerequisites.
LWVL561 State Income Tax Clinic II (Craig Shaltes)
1-2 credit(s)
Requirement: Skills
Prerequisite(s): Tax I
This Tax Appeals Assistance Program is a joint effort between USD Legal Clinics and the California State Board of Equalization. Under the supervision of an attorney from the California Taxpayers’ Rights Advocate Office, students will assist taxpayers with their state tax appeals. Students receive legal practice skills training, including interviewing clients, identifying evidence, drafting appeals briefs, and representing clients in negotiations with the State Board and at hearing. The clinic is graded on a 4-tier Pass-Fail basis. No prerequisites.
LWVL562 State Sales & Use Tax Clinic I (Michael J. Larkin)
2 credit(s)
Requirement: Skills
This State Sales & Use Tax Clinic is a joint effort between USD Legal Clinics and the California State Board of Equalization. Under the supervision of an attorney from the California Taxpayers' Rights Advocate Office, students will assist taxpayers at the Petitions stage of proceedings instituted against them by the Franchise Tax Board. Students receive legal practice skills training, including gathering evidence, preparing legal briefs, participating in negotiation proceedings and oral argument at an administrative hearing. The clinic is graded on a 4-tier Pass-Fail basis. No prerequisites.
LWVL563 State Sales & Use Tax Clinic II (Michael J. Larkin)
1-2 credit(s)
Requirement: Skills
This State Sales & Use Tax Clinic is a joint effort between USD Legal Clinics and the California State Board of Equalization. Under the supervision of an attorney from the California Taxpayers' Rights Advocate Office, students will assist taxpayers at the Petitions stage of proceedings instituted against them by the Franchise Tax Board. Students receive legal practice skills training, including gathering evidence, preparing legal briefs, participating in negotiation proceedings and oral argument at an administrative hearing. The clinic is graded on a 4-tier Pass-Fail basis. No prerequisites.
LWTE560 Tax II ( Staff)
3 credit(s)
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).
LWTE580 Tax Research & Communication (R. Anthony Bauman, Susan Shaler)
3 credit(s)
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.
LWTE581 Taxation of Anti-Money Laundering (Sanford Horowitz)
1 credit(s)
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.
LWTE575 Taxation of Property Transactions (Phillip L. Jelsma)
2 credit(s)
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.
