The University’s Directed 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.
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.
Tax Research Techniques
Federal Income Tax Aspects of Organizing & Operating Corporations
Taxation of Partnerships
IRS Practice and Procedure
Electives – Choose 2-3 courses from the elective options listed under the Third Semester below:
Electives – Choose 3-4 courses from the elective options below:
Federal Income Tax Aspects of Corporate Reorganizations
Taxation of Real Estate
Estate Taxation and Planning
Income Taxation of Estates and Trusts
Federal Income Taxation of Individuals
Fundamentals of International Taxation
Tax Fraud and Evasion
Taxation of Subchapter S Corporations
Taxation of Exempt Organizations
Individual Retirement Plans and Distributions
Taxation of Executive Compensation
Tax Aspects of Charitable Giving
Directed Tax Research
1 to 2 units
Minimum Total Semester Units Required for Graduation: 30
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. An applicant may be conditionally admitted into the Program based on a completed Application for Admission, receipt of the $75.00 Application Fee, student copies of transcripts reflecting the applicant’s highest relevant degree, and documentation of the applicant’s professional work experience.
It is not necessary to submit official transcripts at the time of application. (However, official transcripts must be received by the University within 60 days of enrollment. The University provides students with a form which may be used for this purpose.) Should additional information be required the applicant will be contacted. All payments must be payable in U.S. dollars. Payments may be made by MasterCard®, Visa®, American Express® or Discover®.
It may be necessary for applicants who have attended colleges or universities outside of the United States to obtain an evaluation of their education from a credential evaluation service approved by the University. Upon request, the Admissions Office will provide a list of approved evaluators. In addition, 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
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. MST students may apply to transfer up to a total of 15 units of Transfer Credit however, the courses considered for transfer must be equivalent in both content and degree level, and must have been earned within the last three years. No credit may be awarded for experiential learning (Portfolio Credit) in this program. Credit transfer will not be denied solely on the source of accreditation of the sending institution.
The tuition for the Program is $495.00 per unit. Tuition rates are “locked” for two years at the time of matriculation. An enrolled student will be protected from future tuition increases during this period of time. 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. The cost of books and materials, other than each course syllabus, is not included in the tuition. The University does not sell books or materials. Most books and materials may be purchased directly from publishers or over the Internet. The cost is estimated to average approximately $150.00 per course. Students are always provided with a source for acquiring all required materials.
California residents can find more information about the California Tuition Recovery Fund here.
Transfer Credit Evaluation Fee
Computer Library Fee
(Two Provided at No Cost)
Late Payment Fee
(Returned Check/Declined Credit Card/ACH) (Per Item)
Student Tuition Recovery Fund *
(California Residents Only)
If the applicant is accepted for admission to the Program, a formal enrollment agreement will be prepared and sent to the applicant for review and signature. Students may elect to begin the Program on the 15th of any month. All payments submitted for tuition and fees must be payable in U.S. dollars. Payments may be made by MasterCard® / Visa® / American Express® or Discover®. Applicants are encouraged to call the Admissions Office if there are any questions regarding enrollment procedures.
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.
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 Semester courses.
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 Semester courses.
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 Semester courses.
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 Semester courses.
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 Semester courses.
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 Semester courses.
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 Semester courses.
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 Semester courses.
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 Semester courses.
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 Semester courses.
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 Semester courses.
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.
This course requires the student write a comprehensive brief (research paper) based on hypothetical facts. This course consists of an independent tax research project prepared under the supervision of a faculty member. The topic is selected by the student subject to the approval of the University. It has a value of 1 to 2 semester units. Prerequisites: None.
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.
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 Semester courses.
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 Semester courses.