KOGOD
MS TAXATION
PUBLIC KOGOD
PRIVATE KOGOD GRADUATES KNOW the interconnectedness of business, government, and nonprofits, and possess a strong global awareness of the impact of business on individuals and cultures around the world.
THE MASTER OF SCIENCE IN TAXATION
American University’s Kogod School of Business Master of Science in Taxation (MST) is a unique graduate degree program that provides those interested in pursuing a career in the tax profession with unparalleled opportunities to learn from expert faculty, seasoned executivesin-residence, government officials in the legislative and executive branches, and major industry players. The MST program develops students’ technical competencies across the entire breadth of federal and state taxation, and imparts comprehensive expertise that places our graduates among the most in-demand and highly-valued employees in the tax profession. The professionally-focused curriculum emphasizes intensive practitioner-level skill building in technical knowledge, research skills, written and oral communication, information systems, and interpersonal relations. The program is designed to provide students with core and cutting-edge knowledge that can be applied immediately, and that equips them to become leaders in federal and state tax planning and compliance.
YOU MIGHT LIKE TO KNOW »» American University’s Kogod School of Business is accredited by The Association to Advance Collegiate Schools of Business; this represents the highest standard of achievement for a business school worldwide.
»» Kogod’s MST program is rated among the top ten of graduate tax programs in the country according to a recent survey conducted by TaxTalent, the largest online network for tax professionals.
»» MST Faculty Program Director Donald Williamson was named Tax Notes 2013 Person of the Year.
DEGREE REQUIREMENTS
30
GRADUATE CREDIT HOURS
Students may take up to three non-tax courses, if needed, to sit for the CPA exam. Students may also take tax courses as a non-degree student and transfer into the MST program.
CORE COURSES (6 CREDIT HOURS)
LEGISLATIVE AND JUDICIAL FOUNDATIONS OF INCOME TAX
Legislative and judicial concepts common to all areas of income taxation. Emphasis on analysis of precedent-setting court decisions to trace the development of critical judicial doctrines in taxation. Subject areas include substance over form, characteristics of income, dispositions of assets, capital gains and losses, tax credits, limitations on business expenses and losses, and tax accounting principles. TAX RESEARCH AND PROCEDURE
Thorough analysis and hands-on training in techniques for performing sophisticated tax research including on-line services, treatises, IRS sources, and court decisions. This course also includes analysis of tax procedure including IRS audits and appeals; assessment, collection, and refund processes; statutes of limitations on assessments; penalties; and responsibility in tax practice. Emphasis on practical applications and IRS organization. ELECTIVE COURSES (24 CREDIT HOURS)
ACCOUNTING PERIODS AND METHODS
This course focuses on core tax accounting method and period concepts. It includes revenue recognition, timing of deductions, inventory accounting, depreciation and other cost recovery concepts. EMPLOYEE BENEFIT TAX PLANNING
Analysis of income tax aspects of compensation benefits for employees at all levels, and for self-employed persons. Detailed consideration of qualified retirement plans, IRAs, stock options, deferred compensation, and fringe benefits. INTERNATIONAL TAXATION
U.S. tax law related to investment by U.S. persons overseas and foreign persons in the U.S. Includes the foreign tax credit, Subpart F, PFICs, transfer pricing, FIRPTA, section 911, and tax treaties.
CAREER OUTCOMES
TOP MST EMPLOYERS 2011–2013
AES; AFBA; AMERICAN CAPITAL; BAKER TILLY; BOOZ ALLEN HAMILTON; CHERRY BEKAERT; COGC & CO.; COHNREZNICK; CONSTELLATION ENERGY; DELOITTE; DIXON HUGHES GOODMAN; EY; FREDDIE MAC; KPMG; LIBERTY MUTUAL GROUP; MARRIOTT INTERNATIONAL; NORTHROP GRUMMAN; THE KOGOD TAX CENTER PWC; RAFFA; SC&H GROUP
»» The Kogod Tax Center provides a unique opportunity for students to engage in tax issues. The Center focuses on tax policy and compliance issues that affect small businesses, entrepreneurs, and middle-income taxpayers.
»» Workshops allow MST students to network with industry leaders.
»» The Kogod Tax Center is regularly featured in national press, including Bloomberg, CSPAN, Forbes, Fox, MSNBC, The Wall Street Journal, The Washington Post, CNBC, The New York Times, and USA Today.
»» The Kogod Tax Center leaders are frequently called upon to testify at government hearings before the U.S. House of Representatives Committee on Ways and Means, IRS, and the U.S. Senate Committee on Finance.
YOU MIGHT LIKE TO KNOW
Classes of 2011-2013* Salary Data (for graduates that accepted a new position): $66,850 MEAN / $105,000 HIGH
*65% of MST graduates remain with their
employer after graduation.
TAXATION OF CORPORATIONS
GRADUATE CERTIFICATE IN TAXATION
This 12-credit-hour certificate (four courses) is designed for professionals seeking advancement in the field, or professionals seeking entry into taxation. The full certificate may be applied toward the MST degree.
ELECTIVE COURSES CONTINUED
Income taxation of C corporations and their shareholders including formation, capitalization, redemption, and liquidation rules. Emphasis on reorganizations, carryover of tax attributes, consolidated returns, and financial reporting for income taxes. TAXATION OF PASS-THROUGH ENTITIES
Income tax aspects of transfers to, operation of, and distributions from partnerships, LLPs, LLCs, and S corporations. Consideration given to special partnership allocations, sales and exchanges of partnership interests, dissolution issues, and penalty taxes on S corporations.
NONPROFIT ORGANIZATIONS
This course provides an overview of the law of tax-exempt organizations, including the exemption application process, unrelated business income, sanctions on interested parties, use of for-profit subsidiaries, and Form 990/990T completion. SEMINAR IN BUSINESS TAX PLANNING
Use of case methodology to integrate tax accounting, economic, managerial, and nontax legal considerations for planning business transactions. Includes organization, operation, and liquidation of every type of business entity. ESTATE AND FINANCIAL FAMILY TAX PLANNING
An examination of income, estate, and gift tax rules coupled with nontax legal and financial considerations essential for establishing a tax-efficient wealth transfer plan within a family. Includes income taxation of estate and trusts, charitable and family gifts, valuation problems, and issues in disposing of closely-held businesses. STATE AND LOCATION TAXATION
Examination of apportionment of income, multistate and multinational corporation problems, transaction taxes, property taxes, and death and gift taxes. Detailed analysis of the Uniform Division of Income for Tax Purposes Act. TAX POLICY
Study of the political, economic, social, and ethical forces in the development of tax policy. Includes opportunities for interaction with the U.S. Tax Court, the IRS National Office, and Capitol Hill.
TAXATION OF REAL ESTATE TRANSACTIONS
Income tax aspects of acquiring, operating, and disposing of real estate for investment and personal purposes. Includes deductions (including MACRS), conventional and creative financing techniques, foreclosures and repossessions, subdivision, sale/leaseback transactions, taxdeferred exchanges, involuntary conversions, and sale of a principal residence.
YOU MIGHT LIKE TO KNOW »» Evening classes are designed to fit students’ professional schedules.
»» Full-time students can complete the program in one calendar year.
»» Part-time students can complete the program in as few as two years, including summers.
»» American University undergraduates admitted to the combined BS/MS Taxation program may apply up to nine approved credit hours toward fulfillment of the requirements for both degrees.
DISTINGUISHED FACULTY
DONALD WILLIAMSON, MST Faculty Program Director, Professor
Williamson is a CPA and attorney, and serves as executive director of the Kogod Tax Center. Previously, he served as senior manager for international taxation at the National Tax Practice Office of KPMG in Washington, D.C., and as professor-in-residence at KPMG’s Washington office. Williamson is a frequent lecturer to professional groups throughout the United States, and has held teaching appointments in Europe and China. DAVID KAUTTER, Executive-in-Residence Kautter is a CPA and attorney and the managing director of the Kogod Tax Center. He joined Kogod following a distinguished career as a partner at Ernst & Young LLP, where he held a number of key technical and leadership roles spanning more than three decades. Most recently, Kautter served as Ernst & Young’s director of national tax, the chief operating executive for the firm’s national tax practices. GEORGE MANOUSOS (MST ’03), Adjunct Professor Manousos is a partner in the Federal Tax Services group of the Washington National Tax Services practice of PricewaterhouseCoopers LLP. Previously, he was a taxation specialist in the U.S. Department of Treasury (Office of Tax Policy). Manousos is a member of the AICPA, and a CPA licensed to practice in Massachusetts and the District of Columbia. ROBERT LIGHTBURN, Adjunct Professor
Lightburn is Of Counsel to the law firm of Babirak Carr PC. He is responsible for all tax matters for the firm. His 30-plus years in tax consulting include serving as a tax partner for PricewaterhouseCoopers LLP in several of the firm’s U.S. offices. He works as a generalist in all areas of taxation, and has expertise in the areas of federal and state controversy, as well as estate planning. MARIO DELUCA, Adjunct Professor Deluca is a CPA and attorney with more than 20 years of experience providing tax consulting and compliance services to publicly traded and privately owned companies. As the tax partner in charge of Aronson’s tax practice, Deluca focuses his practice by assisting the firm’s clients to understand the tax considerations associated with a variety of business entities and transactions. STEVEN RAINEY, Adjunct Professor Rainey is the partner-in-charge of tax for KPMG’s Washington, D.C., Virginia, and Maryland business unit. Previously, Rainey was with KPMG’s Washington National Tax practice for 10 years. While there, he focused on the taxation of corporations filing consolidated returns, mergers and acquisitions, and served in various other roles. Rainey has also worked in the firm’s Orlando and Chicago offices.
KOGOD GRADUATE ADMISSIONS
Submit your online application and view application requirements at kogod.american.edu/apply All applicants are required to submit a GMAT or GRE score. Individual degree programs may offer test optional admission or waiver of the examination per the requirements detailed on the individual program webpages. Visit kogod.american.edu/admissions for more information.
SPRING 2015 DEADLINES MS admissions decisions are made on a rolling basis
NOV 15 DEC 10 2014 INTERNATIONAL APPLICANT DEADLINE
2014 FINAL DOMESTIC APPLICANT DEADLINE
FALL 2015 DEADLINES MS admissions decisions are made on a rolling basis
FEB 20 MAY 1 2015 INTERNATIONAL & SCHOLARSHIP PRIORITY DEADLINE
2015 FINAL SCHOLARSHIP CONSIDERATION DEADLINE
APPLICATIONS FOR THE MST PROGRAM SHOULD BE SUBMITTED BY JULY 15.
CONTACT INFORMATION
Kogod Graduate Admissions American University’s Kogod School of Business 4400 Massachusetts Avenue, NW Room 115 Washington, DC 20016-8044 Donald Williamson, MST Faculty Program Director, Professor PHONE 202 885 1942 E-MAIL dwillia@american.edu WEBSITE kogod.american.edu/MST E-MAIL kogodgrad@american.edu OFFICE OF ADMISSIONS 202 885 1913 DIRECTIONS kogod.american.edu/visit
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NOTES
4400 MASSACHUSETTS AVENUE NW, WASHINGTON, DC 20016 WEBSITE: KOGOD.AMERICAN.EDU TELEPHONE: 202 885 1913