170 / FIELDS OF INSTRUCTION


 Hudson; S. A. Lind; M. A. Oberst; D. M. Richardson; S. J.
 Willis; G. Yin.

 Graduate study in the field of taxation leading to the
 degree Master of Laws in Taxation is available in the
 College of Law. Applicants for admission to the Graduate
 School for this degree must hold a law degree from an
 accredited law school but need not submit scores on the
 Graduate Record Examination. For further information
 concerning admission consult the College of Law Catalog,
 or write the Tax Office, 320 Holland Law Center.


 LAW 7602-Income Taxation I (2) Tax problems of individual
 taxpayers; concepts of gross income, identification of taxpayer,
 adjusted gross income; deductions, exemptions, and taxable
 income.
 LAW 7603-Income Taxation 11 (2) Problems incident to the sale,
 exchange, and other disposition of property, including recogni-
 tion and characterization concepts.
 LAW 7604-Income Taxation III (2) Income tax accounting
 principles; the taxable year, accounting methods, installment and
 deferred payment sales, delayed payment for services, income
 averaging, and loss carryovers and carrybacks.
 LAW 7607-Income Taxation of Natural Resources (2) Examina-
 tion of the federal income taxation of the extractive industries (oil
 and gas, solid minerals) and timber; classification and conse-
 quences of conveyance transactions; cost and percentage deple-
 tion; geological and geophysical costs; intangible drilling and
 development costs; mine exploration and development expendi-
 tures.
 LAW 761 1-CorporateTaxation (2) Tax considerations in corpo-
 rate formation, distributions, redemptions, and liquidations. Gen-
 eral consideration of tax alternatives relating to sale of corporate
 businesses.
 LAW 7612-Advanced Corporate Taxation (2) Advanced prob-
 lems including Sub-chapter S corporations, professional corpora-
 tions, personal holding companies and punitive taxes on earnings
 accumulation, collapsible corporations, and corporate tax plan-
 ning.
 LAW 7613-Corporate Reorganization (2) Reorganizations:
 mergers, consolidations, and division, includingtransfer or inheri-
 tance of losses and other tax attributes.
 LAW 7614-U.S. Taxation of Foreign Persons and Incomes (2)
 Applications of the federal income tax to nonresident aliens and
 foreign corporations and to United States citizens, residents, and
 corporations investing funds abroad or conducting business with
 foreign persons.
 LAW 7617-Partnership Taxation (2) Tax meaning of "partner-
 ship"; formation transactions between partner and partnership,
 determination and treatment of partnership income; sales or
 exchange of partnership interest; distributions; retirement; death
 of a partner, drafting the partnership agreement.
 LAW 7623-Taxation of Gratuitous Transfers (2) Federal taxes
 on estates and gifts and generation-skipping transfers.
 LAW 7625-Income Taxation of Trusts and Estates (2) Taxation
 on income of trusts and estates, with emphasis on income required
 to be distributed currently, equivocal distributions of income or
 corpus, and accumulation distributions; other fiduciary tax prob-
 lems, including the treatment of income in respect of decedents.
 LAW 7626-Estate Planning (2) Estate planning; planning life-
 time and testamentary private and charitable dispositions of
 property, postmortem planning; life insurances; analysis of small
 and large estates; eliminating and offsetting complicating and
 adverse factors; selection of a fiduciary and administrative provi-
 sions.
 LAW 7632-Deferred Compensation (2) Tax consequences of
 compensation in forms other than cash paid contemporaneously
 with performance of services. Users of employers' stock in em-
 ployee compensation, nonqualified deferral compensation de-
 vices, and qualified pension and profit-sharing plans.
 LAW 7633-Tax Exempt Organization (2) Study of exemption
from federal income tax accorded to a variety of public and private


 organizations, and tax treatment of contributions to such organi-
 zations; public policies underlying exemption from tax, and
 deductibility of contributions; and the broad new enforcement
 powers to be undertaken by the Internal Revenue Service.
 LAW 7640--Civil Tax Procedure (2) Taxpayer's relationships
 with the Internal Revenue Service, including requests for rulings;
 conference and settlement procedures; deficiencies and their
 assessment; choice of forum; Tax Court practice; limitation peri-
 ods and their mitigation; transferee liability tax liens; and civil
 penalties.
 LAW 7641-Procedures in Tax Fraud Cases (2) Criminal offenses
 and methods of proof; investigative authority of the IRS; summons
 enforcement proceedings; search warrants and grand jury sub-
 poenas; constitutional defenses to the compulsory production of
 evidence; the attorney-client privilege and other objections avail-
 able to taxpayers and third parties.
 LAW 7650-State and Local Taxation (2) Nature and purpose of
 state taxation, comparison of property and excise taxes; uniform-
 ity of taxation; jurisdiction; assessmentand collection procedures;
 remedies available to taxpayers.
 LAW 7905-Independent Study (1-3; max: 4) S/U.
 LAW 7910--Supervised Research (1-5; max: 5) S/U.
 LAW 7911-Federal Tax Research (1-2; max: 2) Substantial
 research and writing project on a federal tax subject; instruction
 in tax research techniques. Students customarily register for the
 course and complete the project during two successive semesters.
 Credit is usually one hour each semester but may be varied in
 accordance with scope and nature of project. H.
 LAW 7931-Current Federal Tax Problems (2; max: 4) Either
 significant new legislation or significant developments within the
 existing statutory framework; emphasis on policy considerations.
 LAW 7940-Supervised Teaching (1-5; max: 5) S/U.






 THEATRE
 College of Fine Arts

 GRADUATE FACULTY 1992-93
 Chair: J. W. B. Williams. Graduate Coordinator: D. L.
 Shelton. Professors: S. R. Homan; A. F. C. Wehlburg; J. W.
 B. Williams. Associate Professors: R. Brandman; D. L.
 Shelton. Assistant Professors: C. Furr; H. Hollingsworth; T.
 M. Pender; R. Rose.

 The graduate program offered by the Department of
 Theatre leads to the degree of Master of Fine Arts. The
 degree prepares students for professional entry in perform-
 ance, production, or teaching.
 Placement in the MFA program is determined by audi-
 tion/portfolio review, academic credentials, diagnostic test-
 ing, and personal interview.
 The program combines graduate students in a company
 intent on the study and practice of theatre as an art and
 discipline. Students of acting and design study concepts of
 theatre together while working in their areas of specializa-
 tion. Focus is on the collaboration and synthesis of theatre
 artistry. Each incoming class admits approximately 10
 students with 9 graduate faculty.
 The student's artistic and academic progress will be
reviewed at the end of each semester. The Department of
Theatre Handbook gives details on the form and focus of
each review.
 At the beginning of Semester IV, each student must
successfully completethe comprehensive examination and
oral defense. The project in lieu of thesis includes research,