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Course Criteria
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3.00 Credits
Continues the discussion of the income taxation of corporations and their shareholders in Corporate Tax I. Includes corporate liquidations, liquidation of a subsidiary, taxable, and nontaxable acquisitive transactions including mergers and consolidations, and corporate divisions. Also, judicial doctrines, affiliated corporations, and carryover of tax attributes. Prerequisite: ACC 624.
Prerequisite:
Prerequisite: ACC 624.
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3.00 Credits
Examines the federal transfer tax system, including estate and gift tax statutes, regulations, rulings, and cases. Topics include the definition of a gift, disclaimers, the annual exclusion, calculation of gross estate, revocable transfers, jointly held property, annuities, powers of appointment, life insurance, the marital deduction, and valuation.
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3.00 Credits
Examines the federal income taxation of trusts and estates and the generation-skipping transfer tax. Topics include entity classification, determination of distributable net income, simple trusts, fiduciary accounting income, the throwback rules, income in respect of a decedent, and the grantor trust rules. Prerequisite: Completion of M.S.T. background equivalents.
Prerequisite:
Prerequisite: Completion of M.S.T. background equivalents.
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3.00 Credits
Covers the federal taxation of partners and partnerships. Topics include formation and operation of a partnership including receipt of a partnership interest for services, liquidations and terminations, distributions and sales of a partnership interest, calculation of basis, and special basis adjustments. Decedent partner issues and LLCs are also covered.
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3.00 Credits
Conceptual issues and constitutional framework of multistate taxation are developed and explored. Current issues, including Michigan taxes, are presented.
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3.00 Credits
Provides a survey of employee benefit plans and executive compensation under the Internal Revenue Code and ERISA, with an in-depth review of the requirements for qualified retirement plans, for welfare plans (medical, dental, vision, disability, etc.) and applicable federal mandates (COBRA, HIPAA, etc.), and for nonqualified and stock-based plans.
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3.00 Credits
Covers fundamental concepts applicable to tax accounting methods and periods and to consolidated income tax returns. Topics include income and expense recognition, the installment method, inventories, changes in accounting methods and periods, qualification and filing of consolidated tax returns, and intercompany transactions, distributions, and basis calculations.
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3.00 Credits
United States jurisdiction to tax on the basis of citizenship, source of income, and other minimum contacts required by international or constitutional law is treated, along with taxation of domestic corporations doing business abroad, entities that are either controlled foreign corporations or foreign personal holding companies, and the foreign tax credit. U.S. possession corporations, domestic international sales corporations, and tax treaties are also considered.
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3.00 Credits
Integrates the specific knowledge learned in the prior M.S.T. courses with sophisticated business/individual taxation problems. Students will be expected to research and defend their solutions to various taxation controversies. Last course prior to graduation. Prerequisites: ACC 622, ACC 624, ACC 627, and ACC 629.
Prerequisite:
Prerequisites: ACC 622, ACC 624, ACC 627, and ACC 629.
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3.00 Credits
Course overviews federal tax practice and procedure under the Code and Regulations. Specific topics include tax return filing issues, interest and penalties, and assessment and collection of tax deficiencies. IRS audits, appeals, and enforcement activities are surveyed, as are the professional and practical requirements for practice before the IRS. Prerequisite: ACC 622 or permission of the graduate business programs director.
Prerequisite:
Prerequisite: ACC 622 or permission of the graduate business programs director.
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