I at the earliest opportunity. Completing Tax Research and Writing, as well as Fundamentals of Federal Income Tax II, early in the program is recommended highly. Tax sheltered annuities are considered. An introduction to the basics of bankruptcy law and creditors' rights and analysis of tax issues that arise. Topics include selection of the form of business enterprise, acquisitions and dispositions of business interests, and professional responsibility issues.
Students prepare writing projects relating to the course material.
Detailed examination of the consolidated income tax regulations and consideration of other problems encountered by affiliated groups of corporations. Review of the net operating loss carryover and collapsible corporation rules. Course also focuses on gathering and analyzing facts in the planning and drafting of trusts, wills, and related documents. Course covers taxation of income in respect of a decedent, tax consequences to trust beneficiaries, and tax problems of fiduciaries. Students may study an area of particular interest to them, not covered in a significant way elsewhere in the program, via an independent study.