The W. Edwards
Deming School of Business
Master of Science in Taxation (MST) Program
The Master of Science in Taxation (M.S.T.) program
is an independent study graduate degree program specifically designed
for certified public accountants and other tax professionals.
The Program presents current and focused information necessary
to perform tax planning activities and work and advance in tax
related career areas. Using many of the same reference materials
found in the offices of tax professionals, the MST program provides
the conceptual understanding and technical competence advantageous
for advancement in the tax consulting profession, corporate finance
departments, and government tax agencies.
Consistent with the American Institute of Certified Public Accountants (AICPA) Statement on Standards for Continuing Professional Education (CPE) Programs, the University recommends fifteen CPE credits (hours) be awarded for each semester unit completed. Generally a grade report reflecting the completion of the course is sufficient documentation. If requested by an accountancy board an official transcript will be provided at no cost. CPE credits are earned at the time a course is completed. While we are unaware of any Taft University student being denied CPE credit for courses in this Program, state boards of accountancy have the final authority on the acceptance of individual courses for CPE credit.
With respect to continuing education credit for IRS Enrolled Agents and Registered Tax Return Preparers, courses within the Program also meet the standards of Treasury Department Circular 230.
The University acts to fulfill the purposes of
the MST Program through appropriate coursework, coupled with continuing
direction, evaluation of student progress, and regular assessment
of student learning outcomes, supervised and administered by qualified
faculty.
The Program is presented on a trimester basis. Students are
generally enrolled in 9 - 12 units per trimester. Each trimester
consists of a minimum time period of 16 weeks from the date study
commences. Students not completing all trimester coursework in the 16-week period will be granted an automatic 2 month extension of time to complete the trimester. Students may take a leave-of-absence between trimesters. However, except in special circumstances, the entire degree program (3 trimesters) must be completed within 5 years.
Directed Independent Study
The University's independent study modality recognizes that education
is an individual process where individuals with different learning
needs and study schedules can be accommodated. It emphasizes learning
that is meaningful, where individuals enjoy the learning process,
and acquire knowledge to better understand and manage their own
careers.
The Program’s Faculty Members support the student’s
independent-study learning role by guiding and stimulating the
learning process through meaningful feedback on assignments and one-on-one interaction. Our faculty mentors
recognize individual learning styles and needs, and emphasize the relevance of the material to the individual's
situation.
Each course in the Program contains a series of lesson assignments
generally consisting of reading requirements and research projects.
Students are evaluated through examinations and/or research assignments
which are submitted for faculty evaluation.
All assignments are submitted electronically. As set forth in
the University’s General Catalog, Internet access and minimum
computer requirements and skills are required as a condition of
admittance.
Curriculum
To earn the Master of Science in Taxation (M.S.T.)
degree, a student must complete the courses outlined below with
a cumulative grade point average of at least 3.00. The requirements
may be completed in as little as twelve months, and must be completed
within five years from the date of initial enrollment.
| First Trimester
|
| TAX521 |
Tax Research Techniques |
3 units |
| TAX502 |
Federal Income Tax Aspects of Organizing & Operating
Corporations |
3 units |
| TAX524 |
Taxation of Partnerships |
4 units |
| Second Trimester
|
| TAX510 |
IRS Practice and Procedure |
3 units |
| |
Electives - Choose 2-3 courses from the elective
options listed under the Third Trimester below: |
6-9 units |
| Third Trimester
|
| |
Electives - Choose 3-4 courses from
the elective options below: |
|
| TAX503 |
Federal Income Tax Aspects of Corporate Reorganizations |
3 units |
| TAX535 |
Taxation of Real Estate |
3 units |
| TAX526 |
Estate Taxation and Planning |
3 units |
| TAX507 |
Income Taxation of Estates and Trusts |
3 units |
| TAX508 |
Federal Income Taxation of Individuals |
3 units |
| TAX509 |
Fundamentals of International Taxation |
3 units |
| TAX511 |
Tax Fraud and Evasion
|
3 units |
| TAX513 |
Taxation of Subchapter S Corporations |
3 units |
| TAX514 |
Taxation of Exempt Organizations |
3 units |
| TAX515 |
Individual Retirement Plans and Distributions |
3 units |
| TAX516 |
Taxation of Executive Compensation |
3 units |
| TAX517 |
Tax Aspects of Charitable Giving |
3 units |
Minimum Total Semester Units Required for Graduation: 30
Financial Information
The tuition for the Program is $395.00 per unit.
Current information on financial aid is set forth on the University’s
website. Enrollment in the Program will generally qualify students
for payment deferrals on existing federally insured student loans.
Applicants seeking deferrals on existing student loans should
check with their lenders prior to enrollment. Additional information
on financial aid and tuition financing can be found under Tuition,
Financial Aid and Financing.
|
| Application Fee |
$75
|
| Transfer Credit Evaluation Fee |
$55 |
| Registration Fee (Per Trimester) |
$50 |
| Graduation Check/Diploma Fee |
$75 |
| Computer Library Fee (Per Trimester) |
$45 |
Administrative Accounting Fee (Per
Trimester)
(Installment Payment Option Only) |
$25 |
| Transcript Fee (Two Provided at No
Cost) |
$10 |
Late Payment Fee
(Returned Check/Declined Credit Card/ACH) (Per Item)
|
$25 |
The cost of books and materials, other than each course syllabus,
is not included in the tuition. Most books and materials may be
purchased at local colleges, retail bookstores, directly from
publishers or over the Internet. The cost is estimated to average
approximately $135.00 per course.
Admission Policies and Requirements
Applicants who have earned a bachelor’s or first professional
degree from a college or university accredited by an accrediting
agency recognized by the United States Department of Education
and have a minimum of three years occupational experience in
accounting or taxation may apply to the Program. The
majority of applicants to this Program are mature adults
working in a variety of professional settings. Many have not
attended college for several years. Consequently, prior class
rank and grade point average are not significant factors in
the admission process.
To apply for admission to the Program, an applicant
must first complete the University’s Application
for Admission Form along with the required application fee.
It is not necessary to submit official transcripts at the time
of application. However, official transcripts will be required
within 60 days of enrollment.
If the applicant is accepted for admission to the Program,
enrollment materials will be prepared and sent to the applicant
for review and signature.
All payments submitted for tuition and fees must be payable
in U.S. dollars. Payments may be made by MasterCard®,Visa®,
American Express® or personal/business check.
Foreign Applicants and Applicants with International Credentials
Applicants whose native language is not English and who have
not earned a degree from an appropriately accredited institution
where English is the principal language of instruction must
receive a minimum score of 530 on the paper-based Test of English
as a Foreign Language (TOEFL), or 71 on the iBT, or its equivalent.
For more information on TOEFL visit the website: www.ets.org/toefl
Transfer Credit
The acceptance of transfer credits between academic institutions
lies within the discretion of the receiving college or university.
Credits earned at William Howard Taft University may or may
not be accepted by another institution depending upon its own
programs, policies, and regulations.
The University is committed to providing students the greatest
opportunity to apply previously earned credit toward their chosen
degree program. Subject to the limitations of state and accreditation
regulations and academic comparability, students may apply to
have credit awarded for postsecondary courses completed by the
student at other institutions if such courses are found to meet
the standards and requirements of the specific program. Transfer
credit must be from an appropriately accredited institution.
Credit transfer will not be denied solely on the source of accreditation
of the sending institution. MST students may apply to transfer
up to a total of 15 units of Transfer Credit.
Foreign Degree Evaluation
Applicants wishing to transfer in credits or degrees earned
at institutions located outside the United States must have
their academic transcripts evaluated and certified by a National
Association of Credential Evaluation Services, Inc. (NACES)
member organization. Applicants will be assessed a fee by the
certifying organization and should request that the report be
sent directly to Taft University. Applicants transferring in
a degree need to request a General Degree Evaluation sometimes
called a Document by Document Evaluation. Applicants wishing
to transfer in credits toward specific courses must request
a Course-by-Course report.
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Course Descriptions
TAX502 Federal Income Tax Aspects of Organizing and Operating
Corporations (3 Units)
A study of federal income tax aspects of organizing and operating
corporations. Subjects covered include the organization of a corporation
under Section 351, the corporation’s capital structure,
corporate elections under Subchapter “S”, dividends,
and non-liquidating distributions.
Prerequisites: None.
TAX503 Federal Income Tax Aspects of Corporate Reorganizations
(3 Units)
Continuing the study of corporations, this course studies every
major aspect of the tax ramifications of restructuring the corporation
including stock redemptions, partial liquidations, preferred stock
bailouts, complete liquidations, collapsible corporations, and
Section 368 reorganizations.
Prerequisites: First Trimester courses.
TAX507 Income Taxation of Estates and Trusts
(3 Units)
A complete study of Subchapter “J” of the Internal
Revenue Code, including a detailed analysis of such topics as
computations of taxable income of an estate or trust and tax treatment
of beneficiaries.
Prerequisites: First Trimester courses.
TAX508 Federal Income Taxation of Individuals (3
Units)
This course deals with federal income taxation as it impacts individuals
including the definition of gross income, business and personal
deductions, sales and exchanges of property, alternative minimum
tax, operating losses, tax shelter deductions, taxation of capital
gains & losses and tax accounting issues.
Prerequisites: First Trimester courses.
TAX509 Fundamentals of International Taxation
(3 Units)
This course provides an introduction to international taxation
and provides a general overview of the U.S. system of taxing the
foreign income of its citizens and the U.S. income of non-citizens.
It also addresses foundations of taxation in international law,
fiscal residence of companies, rules for determining income and
expenses, and tax incentives in developing countries.
Prerequisites: First Trimester courses.
TAX510 IRS Practice and Procedure (3 Units)
This course studies the entire range of tax procedure and IRS
practice, including a full analysis of the laws pertaining to
tax procedure and how the IRS interprets and applies those laws.
Complete descriptions of how the IRS operates and suggested techniques
for representing clients with specific IRS problems are also covered.
Prerequisites: First Trimester courses.
TAX511 Tax Fraud and Evasion (3 Units)
Designed to assist attorneys and tax professionals advising on
potential fraud situations, this course includes discussions of
tax evasion versus tax avoidance, investigation and processing
of potential criminal fraud, compromise procedures, civil penalties,
and contesting the deficiency assessment.
Prerequisites: First Trimester courses.
TAX513 Taxation of Subchapter S Corporations
(3 Units)
The objective of this course is to provide students with the skills
necessary to determine compliance requirements, tax planning opportunities
and potential pitfalls for corporations electing to be taxed under
Subchapter S of the Internal Revenue Code.
Prerequisites: First Trimester courses.
TAX514 Taxation of Exempt Organizations (3 Units)
The objective of this course is to provide students with the skills
necessary to determine compliance requirements, tax planning opportunities
and potential pitfalls for organization claiming exemption from
federal income tax.
Prerequisites: First Trimester courses.
TAX515 Individual Retirement Plans and Distributions
(3 Units)
The objective of this course is to provide students with the skills
necessary to determine compliance requirements, tax planning opportunities
and potential pitfalls for taxpayers who own individual retirement
plan (IRA) accounts.
Prerequisites: First Trimester courses.
TAX516 Taxation of Executive Compensation (3
Units)
The objective of this course is to provide students with the skills
necessary to determine compliance requirements, tax planning opportunities
and potential pitfalls related to compensation plans of business
executives.
Prerequisites: First Trimester courses.
TAX517 Tax Aspects of Charitable Giving (3 Units)
The objective of this course is to provide students with the skills
necessary to determine compliance requirements, tax planning opportunities
and potential pitfalls related to charitable giving. The course
will provide you with an in-depth analysis of income, estate,
and gift tax issues affecting donations to charity.
Prerequisites: First Trimester courses.
TAX521 Tax Research Techniques (3 Units)
This course serves as the introduction to the Program and as a
comprehensive guide to tax research techniques. The text uses
specific examples and a step-by-step approach that will instruct
the student on how to obtain the facts, ask the right questions,
locate and assess pertinent authority, and communicate tax-saving
options to clients.
Prerequisites: None.
TAX524 Taxation of Partnerships (4 Units)
A complete study of Subchapter “K” including defining
partnerships and partners for tax purposes, receipt of a partnership
interest, liabilities, tax accounting for partnerships, distributive
shares, terminations, and tax shelters.
Prerequisites: None.
TAX526 Estate Taxation and Planning (3 Units)
In addition to comprehensive coverage of federal estate and
gift taxation, this course also covers practical matters such
as probate, trusts, and joint tenancy.
Prerequisites: First Trimester courses.
TAX535 Taxation of Real Estate (3 Units)
Subject matters in this course include complete coverage of
federal income tax implications of all types of real estate
transactions, from house closings to sale-leasebacks and syndications.
Also covered are real estate tax planning ideas, techniques,
and strategies.
Prerequisites: First Trimester courses.
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