Overview of Tax Law Classes

Essential Information

Courses taken as part of a MBA (Master of Business Administration) program, such as tax accounting, generally focus on working with taxes. Law students, on the other hand, take courses that cover a wide range of tax law subjects so that they can acquire tools to effectively enforce and monitor the ethical implementation of tax law in a wide range of scenarios. Law schools usually offer taxation courses as electives during the second or third year of the curriculum. Some law schools offer options to focus studies on tax law.

Here are some common course taught in tax law classes:

  • Types of taxes
  • Laws and regulations
  • IRS
  • Tax credits/deductions
  • Accurate documentation of financial records

List of Common Courses

Tax Law Procedures Course

Through this course, students are introduced to the general principles of tax law, administration and regulation. The functions and structure of the Internal Revenue Service (IRS) are discussed along with audit and appeal practices, collection and penalty procedures, aspects of litigation and other ethical issues.

State and Local Tax Course

Students in a state and local tax course gain perspective on tax procedures at the state and local level, developing an understanding of the structure of laws from a constitutional and statutory basis. Emphasis is placed on awareness of various taxes including franchise taxes, real property taxes, income taxes and death taxes.

Income Tax Course

This course provides a general understanding of federal income tax principles. Students learn the processes of calculating gross income, properly identifying the taxpayer, determining the timing of income recognition, calculating deductions and recognizing reporting periods. Emphasis will be on in-depth study of the Internal Revenue Code (IRC) as well as case law.

Corporate Income Taxation Course

Students in this course are given an overview of how the IRC taxes corporations and their business practices. This course investigates the tax structure and responsibilities of corporations at their inception, in the midst of their financing, through their continual organizational and operational life, and ultimately, at their final liquidation.

International Tax Course

After developing a strong sense of the methods and procedures related to income taxation, students study how U.S. tax law effects foreign taxpayers engaging in U.S. ventures and U.S. taxpayers engaging in foreign ventures. Foreign tax law and procedures are discussed, and students learn to differentiate between foreign and U.S. tax systems. The course will also highlight several specific foreign tax issues including tax treaties and foreign tax credit.

Tax Accounting Course

This course provides a combination of basic accounting principles and business assessment practices, focusing on the standards impacting timing of income and deductions for taxes. Various accounting theories and inventory procedures are studied in an effort to determine the most productive methods of accurately recording and reporting information.

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