Master of Science in Taxation (MST)
School of Government & Law
Bookend Your Career Achievements with Our MST Program
Our Master of Science in Taxation (MST) program is specifically designed for certified public accountants, enrolled agents, and other tax professionals.
The program presents current and focused information necessary to perform tax planning activities. Using many of the same reference materials found in the offices of tax professionals, the program provides the conceptual understanding and technical competence advantageous for advancement in the tax consulting profession, corporate finance departments, and government tax agencies.
Consistent with the American Institute of Certified Public Accountants (AICPA) Statement on Standards for Continuing Professional Education (CPE) Programs, the University recommends 15 credits (hours) be awarded for each semester unit completed. Generally a grade report reflecting the completion of the course is sufficient documentation. If requested by an accountancy board an official transcript will be provided at no cost.
With respect to continuing education for Enrolled Agents, courses within the program also meet the standards of Treasury Department Circular 230.
Our MST degree program is presented through distance education using online technology requiring no classroom or seminar attendance. The program is offered in only the Independent Study modality.
Learning Modality | Curriculum | Program Outcomes | Admissions Process
Upcoming Start Dates:
January 7th | March 4th
Tuition: $495/credit
Credits Required: 30
Total Program Tuition: $14,850
Learning Modalities:
Independent Study
Admissions Requirements:
Bachelor’s Degree
or
Enrolled Agent with partial Bachelor’s
Did you enroll in our MST program before the October 26, 2021 start date? You can find your program catalogs and other relevant information here.
Independent Study that Fits into Your Busy Schedule.
Our Independent Study modality gives you the flexibility to fit your program around your career and lifestyle.
Students have 8 weeks to complete each course, working independently with the support of a faculty mentor. The time to degree completion may be accelerated or extended, within the guidelines of the University.
Each course in the program contains a series of lesson assignments, generally consisting of reading assignments supplemented occasionally by various multimedia. Students are evaluated through examinations and/or research assignments, which are submitted for faculty evaluation.
Pay tuition in installments completely interest-free — each semester, just make a 30% down payment upfront, followed by 3 monthly payments.
Start on any of six start dates throughout the year.
Curriculum
A total of 30 credits are required for graduation from the University with an MST. A student may transfer in a maximum of 15 credits from previously completed coursework.
Students must successfully complete all Foundation Courses prior to beginning Elective Courses. All required and elective courses in the MST program are available to view below.
+ Foundation Courses
TAX521 Tax Research Techniques (3 credits)
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.
TAX502 Federal Income Tax Aspects of Organizing & Operating Corporations (3 credits)
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.
TAX527 Taxation of Partnerships (3 credits)
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.
TAX510 IRS Practice & Procedure (3 credits)
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.
TAX522 Directed Tax Research (3 credits)
This Capstone course requires preparation of a written project demonstrating scholarship 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.
+ Elective Courses
Students choose 15 credits of electives to complete their program.
TAX503 Federal Income Tax Aspects of Corporate Reorganizations (3 credits)
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.
TAX507 Income Taxation of Estates & Trusts (3 credits)
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.
TAX508 Federal Income Taxation of Individuals (3 credits)
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.
TAX509 Fundamentals of International Taxation (3 credits)
This course provides an introduction to international taxation and provides a general overview of the US system of taxing the foreign income of its citizens and the US 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.
TAX511 Tax Fraud & Evasion (3 credits)
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.
TAX513 Taxation of Subchapter S Corporations (3 credits)
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.
TAX514 Taxation of Exempt Organizations (3 credits)
The objective of this course is to provide students with the skills necessary to determine compliance requirements, tax planning opportunities, and potential pitfalls for organizations claiming exemption from federal income tax.
TAX515 Individual Retirement Plans & Distributions (3 credits)
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.
TAX516 Taxation of Executive Compensation (3 credits)
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.
TAX517 Tax Aspects of Charitable Giving (3 credits)
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.
TAX526 Estate Taxation & Planning (3 credits)
In addition to comprehensive coverage of federal estate and gift taxation, this course also covers practical matters such as probate, trusts, and joint tenancy.
TAX535 Taxation of Real Estate (3 credits)
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.
Program Outcomes
Upon successful completion of the program, graduates will be able to:
PLO1 – Identify the skills necessary to evaluate and apply current tax law to business, corporate, and individual tax issues.
PLO2 – Demonstrate an understanding of the laws about tax procedures and how the IRS interprets and applies those laws.
PLO3 – Use techniques for analyzing and resolving taxation issues, including identifying problems, researching and locating relevant law, and applying the legal rules to facts.
PLO4 – Effectively communicate tax research to clients and the community of tax professionals.
PLO5 – Make appropriate recommendations based on sound reasoning and analysis.
Admissions Process
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Apply Online
Complete our online Application Form and attach any prepared documents. Additional documents may be emailed directly to Admissions@Taft.edu or your Admissions Representative after your application form is submitted. This program is designed for certified public accountants, enrolled agents, and other tax professionals
Required Documentation:
Bachelor’s Transcript
Enrolled Agent Certificate
(If Applicable)Resume
Copy of ID
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Transfer Credit Approval
Students enrolling in our MST program are able to transfer in up to 15 credits from previously-taken coursework. To bring in transfer credits, incoming students must pay our Transfer Credit Evaluation Fee.
Transfer credits into our MST program must be from courses taken in the last three years.
Please email your admissions representative or Admissions@Taft.edu with any questions.
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Choose Your Start Date
Independent Study students are able to begin their program on any of six start dates throughout the year.
Complete information about our start dates, holidays, and other important dates can be found on our Academic Calendar.
Once you’re accepted into the program, your admissions representative will confirm your start date with you.
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Complete Your Enrollment Materials
Once your start date is confirmed, you’ll be provided with enrollment materials to fill out and sign. This includes your first tuition payment.