Several research projects using these materials are required. Written and oral techniques for presenting research results are discussed. The presentation of a written research paper of required. Among topics considered are preparation of tax returns, due dates and extensions, techniques for gathering information and preparation of returns, statute of limitations, tax examinations, appeals procedures in the IRS, request for rulings, collection matters, tax fraud, and professional responsibility of taxpayer's representatives. This course examines tax policy issues and how policy makers attempt to resolve competing objectives for revenue, equity, economic efficiency and administrability.
Consideration is given to alternative solutions, including current legislative proposals.
This course reviews the tax aspects of corporate formations, including corporate characteristics, transfers to controlled corporations, corporate capital structure, the income tax calculations for corporate entities and elections. This course deals with the principles and mechanics of consolidated returns including eligibility, computation of consolidated tax liability, inter-company transactions, inventory adjustments, basis of property, net operating losses, earnings and profits and separate return limitations. A study of Subchapter K of the Internal Revenue Code and regulations pertaining to that Subchapter. The tax problems associated with partnership formation, operation, liquidation and distributions are covered. Acquisitions of a partnership interest, problems associated with a partner's guaranteed payment, optional basis adjustment of partnership property and other current materials are examined.