Academic Programs
Courses | Summer 2008 | Spring 2008 | Fall 2007
Fall 2007 Course Offerings
LAW 7602 - (3 credits) - INCOME TAX I - To be re-titled “TAXATION OF PROPERTY
TRANSACTIONS” (Lokken)
Tax problems of individual taxpayers; concept of gross income; deductions; identification of
taxpayer; problems incident to the sale, exchange, and other disposition of property, including
recognition and characterization concepts.
LAW 7611 - (3 credits) - CORPORATE TAXATION I - (McMahon)
Tax considerations in corporate formations, distributions, redemptions, and liquidations,
including Subchapter C and Subchapter S corporations. Some general consideration of the tax
alternatives relating to the sales of corporate businesses.
LAW 7614 - (3 credits) - U.S. INTERNATIONAL TAX I - (McDaniel)
The tax definition of resident; the distinction between domestic and foreign entities; taxation of
business income and nonbusiness income of foreign persons; taxation of income of trades or
businesses carried on by foreign persons in the U.S.; special rules on U.S. real property interests;
and branch profits and branch interest taxes.
LAW 7623 - (3 credits) - FEDERAL TAXATION OF GRATUITOUS TRANSFERS
Federal estate, gift and generation-skipping transfer taxes.
LAW 7633 - (2 credits) - TAX EXEMPT ORGANIZATIONS - (Willis)
A study of the exemption from federal income tax accorded to a variety of public and private
organizations, and the tax treatment of contributions to such organizations; public policies
underlying exemption from tax and deductibility of contributions.
LAW 7641 - (2 credits) - PROCEDURES IN TAX FRAUD CASES - (Phillips)
Criminal offenses and methods of proof; investigative authority of the IRS; summons
enforcement proceedings; search warrants and grand jury subpoenas, constitutional defenses to
the compulsory production of evidence; the attorney-client privilege and other objections
available to taxpayers and third parties.
LAW 7682 - (2 credits) - INCOME TAX TREATIES - (McDaniel)
This course examines the principal issues raised by model and bilateral tax treaties. The tax treaty making process is reviewed. Then the most important treaty articles are analyzed by comparing the Model U.S. and OECD income tax conventions with U.S. tax treaties with a developed county, a newly industrialized country, and a developing country. The course is a limited enrollment class and is open only to students simultaneously enrolled in U.S. International Tax I.
LAW 7931 - (2 credits) - TAXATION OF FINANCIAL INSTRUMENTS - (Lokken)
This course deals with the taxation of income from financial instruments of various kinds,
including options, futures, forwards, swaps, and other instruments often referred to as
“derivatives.” In the course of dealing with income tax issues, significant time will be spend in
the class on examining the economic and financial aspects of the instruments and uses of the
instruments in investment and business strategies.
LAW 7931 - (2 credits) - TAXATION AND FISCAL POLICY - (McMahon)
The course examines issues in Federal tax and fiscal policy, focusing on the impact of various
legislative decisions regarding the tax base and rates on economic efficiency and international
competitiveness, distribution of tax burdens among taxpayers, tax equity, and the Federal budget.
Selective issues will be examined primarily by studying reports prepared for Congress and the
Executive branch by agencies and offices, staffed by economists and tax lawyers, such as the
Congressional Research Service, Congressional Budget Office, Staff of the Joint Committee on
Taxation, and the Department of the Treasury Office of Tax Policy, for consideration in making
political decisions formulating tax policy choices. Through the course of the semester students
will role-play Congressional staffers preparing memoranda for a hypothetical elected member of
Congress serving on the House Ways and Means Committee or the Senate Finance Committee
explaining the policy implications of supporting or opposing particular proposals for “tax
reform.”