What is Taxation?

Taxation involves the collection of income tax (corporate and personal), and taxes on real or personal property acquired through personal and professional efforts. In addition to income tax, there is employment tax, sales tax, inheritance tax, capital gains tax, property tax and other taxes.

What is Tax Law?

Tax law involves the taxation of income (corporate and personal), and real or personal property acquired through personal and professional efforts. In addition to income tax, there is employment tax, excise tax, sales tax, gift tax, inheritance tax, capital gains tax, property tax and many other areas of taxation. U.S. tax law is divided into federal tax, state tax and local tax (counties, cities, and other municipalities). There are also foreign tax laws, as well. The federal government and the state governments each have tax laws that are independent, and in some cases, different from one another. The more assets an individual owns, the more complicated the tax law becomes.

Tax law affects most areas of life. There are even forms of taxes that are imposed on an individual's assets and property at the time of death—death tax. These include estate tax, gift tax and inheritance tax, among other forms. An estate tax is a tax levied upon the decedent's entire estate, regardless of how it is disbursed, before any transfers take place. An alternative form of death tax is an inheritance tax, a tax levied on individuals receiving property from the estate. Many people try to avoid estate and other forms of death taxes by transferring assets before death. Gift tax laws were designed to prevent complete tax avoidance by this route. The Federal estate tax is integrated with the Federal gift tax, so that large estates cannot be shielded from taxation by lifetime giving. Many states also impose an estate tax.

Should I hire a Taxation Attorney?

If you have an unresolved tax problem, you should consult with a taxation attorney as quickly as possible to avoid such actions as liens on your wages and even your bank account. A taxation attorney can help you quickly prepare an Installment Agreement, Innocent or Injured Spouse Relief, Penalty Abatement or Offer in Compromise (OIC) depending on your individual circumstances. If necessary, the attorney can also represent you before the Appeals Division of the Internal Revenue Service and/or the United States Tax Court. Taxation attorneys can also help you avoid tax issues and save money by providing timely advise on a variety of issues including real estate tax deferred exchanges and other investments.

For more information, contact a qualified Lead Counsel Taxation Attorney, as provided on this site, to discuss your situation.

Frequently Asked Questions

• What Is a Tax Lien Certificate?
  A tax lien certificate is a lien on your property for not paying your taxes.  If you fail to pay your taxes off, the county government will auction off your property.  The winning bidder … more
• Do I Have To Pay My Taxes?
  Generally yes.  You must pay your taxes every year.  Some people may argue that the collection of taxation is unconstitutional, however, it has been ruled that taxation is … more
• What Is A Tax Lien?
  A tax lien occurs when someone or something fails to pay their taxes on property, gifts, or even estates.  A lien is a form of ownership over that property.  In some cases, if a lien is … more
• Can I Request A Tax Extension?
  Whether you are having trouble filling out the paperwork, need more time to collect money to pay your taxes, or for some other reason, sometimes you need more time before you file your taxes. … more

Free Legal Forms

• IRS Publication 969: Medical Savings Accounts
• 0697 Form 5310 Application For Determination Upon Termination (Info Copy Only)
• 1102 Notc 1036 Early Release Copies Of Income Tax Withholding And Advance Earned Income Credit Payment Tables
• 1202 Form W-7 Application For Irs Individual Taxpayer Identification Number