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Through an online Master of Laws (LL.M.) in Taxation program, students learn how to navigate local, state and federal taxation laws and interact with clients in an ethical manner.
LL.M. programs in taxation are designed for lawyers looking to expand their practices. Fully online programs are available, and they take 1-2 years to complete. Some schools may require a few visits to campus. Applicants must have a law degree from an accredited school.
Though a license may not be required to be admitted into these programs, it is required to practice law. Lawyers will need to pass the required bar exams to practice taxation law in their states.
Master's Degree in Taxation Law
Students enrolled in an LL.M in Taxation program study how people are taxed by local, state and federal branches of government. Students explore concepts related to international taxation, property transactions and estate planning. Most programs requires students to have at least a bachelor's degree in addition to a law degree (J.D.). There are several LL.M. in Taxation programs available online.
Information and Requirements
This master's degree program can be completed in less than two years by part-time students. The program is available entirely online by many colleges and universities, although some require that students make a few visits to campus. Courses are completed by logging onto the school's Web-based application, where students can watch pre-recorded video lectures or participate in a virtual classroom experience. Students can also interact with classmates, complete assignments and access a university's online library. A computer with reliable Internet access is required.
Online courses in taxation law are available asynchronously or synchronously, so that students can complete them either entirely on their own time or by attending regularly-scheduled virtual classes.
Federal Tax Procedure
Students examine the way the IRS is organized as well as the regulations of the U.S. Treasury. The course covers various administrative rulings, penalties, taxpayer rights and privileges, refund claims and the American tax collection process.
State and Local Taxation
Through this course, students become familiar with taxes typically instated by state and local government. They study the purpose, use and viability of state and local taxation.
Tax Planning, Practice and Research
Students learn the research methods used to prepare businesses or individuals for taxation. They examine tax questions and learn to use computerized tax databases, while exploring taxation issues relevant to the IRS.
Tax Aspects of Bankruptcy
This course covers how bankruptcy affects individuals. Students examine the role of the tax professional when a person declares bankruptcy.
Upon completion of an LL.M. in Taxation program, students may find work as tax lawyers or corporate attorneys. According to the U.S. Bureau of Labor Statistics, demand for lawyers will grow 6% between 2014 and 2024. The median salary for a corporate attorney in October 2016 was $98,672, as reported by PayScale.com.
Each state requires individuals to pass a written bar examination before practicing law independently or as part of a firm. The bar exam typically lasts for two days and tests a potential lawyer's knowledge of legal generalities as well as specific state and federal statutes. Many states also require individuals to pass an ethics test known as the Multistate Professional Responsibility Examination (MPRE).
Master of Laws (LL.M.) in Taxation online programs are designed for working lawyers who want to broaden their practices. In most programs, the coursework is fully online, and courses discuss tax procedure and regulations.