A Guide to Tax Law

Tax law is a federal and state legal issue dealing with statutory, regulatory, constitutional and common law rules. These government-implemented procedures establish what rules govern every economic transaction that takes place in the United States.

Tax lawyers are often difficult to find, as it is a specialist area not required by most law schools. Most tax lawyers work in consulting roles or are involved in litigation as it takes an extra semester typically to master the subject. However, tax attorneys play an important role in this complicated area of law.

Tax attorneys will help represent clients in many difficult situations, whether this is an initial audit, an IRS administrative hearing in Tax Court or a final review by a higher court. Moreover, a tax attorney will help you understand the difficult laws of tax and how to best situate yourself for success.

There are two main reasons for the constant change in tax law. The first is that the tax code has been used increasingly more often for objectives other than raising revenue, such as meeting political, social and economic agendas. The second is the manner in which the tax code is amended, which is another complex process dealing with state and national government agencies.

The government has created two forms of taxes, direct and indirect. Direct taxes are those assessed against income, land or real property and personal property which are paid directly to the government. In contrast, indirect taxes are assessed against articles of consumption such as products or services, but collected by an intermediary such as a retailer.

Some of the major tax areas have to deal with property or estate tax, gift tax, federal, state and capital gains tax.

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