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Joseph Rivera
Joseph Rivera

Advanced Tax Laws Advanced Tax Laws And Practice PATCHED

The School of Accounting's badge in advanced tax practice is designed to prepare students for advanced level tax research and planning for a variety of situations, including tasks such as researching and providing tax law conclusions for tax issues posited by various tax fact patterns regarding

advanced tax laws advanced tax laws and practice


We do strongly recommend that all students in the Graduate Tax Program consider taking "Taxation of Property Transactions." (3 credits) Many students take it early in their program in order to gain a solid foundation for their future courses, all of which will build on the concepts learned in this course. Instructors in the more advanced courses assume that all students have mastered this material and do not spend class time reviewing these issues and concepts.

Master the advanced concepts of partnership taxation so you can provide your clients with valuable advice and tax planning strategies, updated with the most recent legislation and IRS guidance affecting partnerships and LLCs.

You will take classes with Professor David Rosenbloom, faculty director of the International Tax Program, as well as Professors Noël Cunningham, Mitchell Kane, John Steines, and Victor Zonana, who draw on their years of experience teaching the core classes in this specialization to students from around the world. You also will choose from advanced tax courses taught by long-standing full-time professors in the Law School's leading Graduate Tax Program. All are influential scholars on a range of topics in taxation, and many of them bring insights to the classroom from their prior experience in practice or government.

You'll receive sophisticated training in the US international tax system while choosing from the largest and most varied set of classes on tax treaties, international tax policy, and regional systems of tax available at any American law school. You'll also learn the nuts and bolts of US corporate taxation and international taxation in classes that cater to students who received their prior training abroad, and train in the most advanced tax research technologies.

First, take Income Taxation. Income Taxation (4 credits) is offered as a 1L elective during the spring semester and is offered in multiple sections to 2Ls and 3Ls each semester. The tax faculty strongly recommends that you take Income Taxation during your 1L or 2L year, if possible. There are two important reasons for this timing. First, if you plan to work in a law firm during your 2L summer, you will not be able to request a tax assignment or a rotation in the tax group unless you have at least taken Income Taxation before arriving at the firm. Without spending at least some time in the tax group at your 2L summer associate law firm, you may encounter difficulty in obtaining a position in the tax group when you join the firm as an associate. Second, if you decide to pursue tax as a practice area, you should take certain advanced tax courses before graduating from NYU. If you wait to take Income Taxation until your 3L year (especially during your last semester), you will miss out on opportunities to take these advanced tax courses.

If you are still excited about tax, start to think about tax practice areas. If you have taken Income Taxation and Corporate Tax I & II and are still enthused about the subject, you should consider taking additional advanced tax courses. From the nearly 100 sections of advanced tax courses that we offer each year, you could choose a few that appear interesting to you. A more directed approach to preparing to practice as a tax lawyer after graduation is to think about the type of tax practice that appeals to you and, during your remaining semesters at NYU, to take a few advanced courses that relate to that area. To assist you with this analysis, we have described below several different types of tax practice areas and specific courses that may be accessible to JD students who are interested in each area.

Business Tax. If you plan to work on transactional matters as a tax lawyer at a large corporate law firm or a major accounting firm, you should take two additional advanced tax courses before graduating. First, after taking Corporate Tax I & II, you should take Partnership Tax (3 credits). Many of your future clients may be organized as partnerships rather than corporations (e.g., private equity funds and hedge funds) or may desire to form partnerships when creating new businesses. Second, you should take Survey of International Taxation (4 credits) or International Taxation I, II and/or III (6 credits total). To be clear, these courses do not focus on the tax laws of other countries. Rather, they address the many US rules, regulations and treaties that govern the taxation of the income of nonresident aliens and non-US corporations from activities in the US and the taxation of the income of US taxpayers with investments and business activities in other countries. As cross-border transactions have increased dramatically in recent years, if you plan to advise business clients, you should take at least one course on international taxation.

Government/Policy. If you are interested in serving in government, working at a think tank or pursuing a career in legal academia, you should consider enrolling in one of the several tax policy seminars that we offer each year. The Tax Policy & Public Finance Colloquium (4 credits) offers the opportunity to pursue tax policy and theory, along with related issues of public economics, at an advanced level. Each week, this colloquium focuses on a work-in-progress by a leading tax scholar. The Federal Budget Policy and Process Seminar (2 credits) provides students with the basic tools of the lawyers and analysts who work with the federal budget, while also asking them to delve into theory underlying federal budget policymaking. Finally, Tax Policy (2 credits) examines the legal, economic and political considerations relevant to the formulation of tax policy. Even if you are interested in pursuing a career in government, policy or academia, you should not feel that you have to enroll in all of these seminars. Further, a student who is interested in pursuing a business tax practice may also benefit from taking one of these tax policy offerings.

The tax courses described in this part represent only a fraction of the total number of advanced tax courses that we offer at NYU each year. As long as you satisfy the required pre- or co-requisite courses, you may enroll in any of these tax courses. You can access a full list of advanced tax courses offered in most years. In addition, even though you may be confident that you plan to pursue a career as a tax lawyer, several courses outside of the tax area may also be helpful to you. Specifically, every future tax lawyer should seriously consider taking Corporations and Accounting for Lawyers.

Many students find that it is difficult to fit in all of the important tax classes during their JD programs, and prefer to approach certain topics a structured classroom environment rather than in a piecemeal fashion while first starting in practice. After graduating from the JD program, you may choose to continue your tax studies at NYU by enrolling in advanced tax courses. The LL.M. in Taxation is a 24-credit degree program, which students complete full-time during a one-year period or part-time over a period of study of up to five years. Special rules apply, however, for NYU JD students. If you are interested in pursuing an LLM in Taxation, it is important that you consider these rules, described below, as you design your JD tax course schedule.

Part-time LLM in Taxation. After graduating from your JD program, you may not wish to spend an additional semester full-time at NYU. But if you have taken advanced tax courses, you may still pursue your LLM in Taxation on a part-time basis. You may take as long as five years to complete the LLM in Taxation requirements. The five-year period begins to run from the semester in which you took your first advanced tax course as a JD student. If you enroll in this program, you will be able to double-count up to 12 advanced tax credits taken during your JD program toward your LLM in Taxation. You do not have to complete 12 credits of advanced tax courses as a JD student to enroll in the part-time LLM in Taxation program following graduation from your JD program. For example, if you take eight advanced tax credits as a JD, you will be able to double-count these credits toward your LLM in Taxation on a part-time basis (subject to the five-year rule). All JD students who pursue the part-time LLM in Taxation are required to complete at least one course in tax procedure and one course in tax policy.

Finally, as a part-time LLM student, as long as you complete 12 advanced tax credits by taking tax courses on campus (including the credits that you take during your JD program), you may complete the remainder of your LLM in Taxation by taking online tax courses. The NYU Graduate Tax Program offers many advanced tax courses in an online format each year. As a student in one of these classes, you participate by viewing videos of a course that is being offered on campus during that semester or that was recorded during a previous semester. You complete the same exam as all other students, both on-campus and online, who are enrolled in the course. The availability of online tax courses offers significant flexibility to our students who are practicing or who work in other cities. For example, you could complete 12 advanced tax credits during your JD program at NYU, move to Chicago following graduation, and complete the remaining 12 advanced tax credits by enrolling entirely in online courses during the five-year period described above.

A unique aspect of studying tax law at NYU is that you can learn about the subject both inside and outside of the classroom. This is true whether you take 12 credits of advanced tax courses during your J.D. program or simply take Income Taxation. Each semester, the Graduate Tax Program hosts substantive programs and events that are designed to reinforce concepts that you are learning in class, address topics that do not receive significant exposure in class and provide a forum for debate and discussion regarding important tax policy issues. These events are open to the entire NYU School of Law community. You will receive information about these events by e-mail and you can read more about them on the NYU Law Tax Blog, which you can access by clicking here. Several regular events are described below. 041b061a72


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