Basic Guide to Tax Law

Tax law is a highly complex legal field that covers laws, rules and policies relating to tax processes. The application and amendment of the tax code contributes to the complexity of this domain.

Tax LawTax law basics

In America, the Internal Revenue Service (IRS) is responsible for administering the Federal tax law. The IRS is guided by the tax code. However, the IRS is not the only entity that enforces the tax law and collects from individuals as well as organizations. States and local government entities also collect tax revenues. Taxation is implemented in wide-ranging forms, including levies, duties on imports and more. For more information on taxation, visit Myles Haverluck’s website.

Four levels of government enforce tax law directly or indirectly. Direct taxes are remitted to government agencies. The taxes are typically imposed on various transactions or economic activity, such as personal income, ownership or purchase of real property and more.

Indirect taxes are levied on a wide variety of services and products consumed by both businesses and individuals. These taxes are typically remitted through an intermediary (merchant).

Tax law for states like Idaho and various local government entities is stipulated in statements, administrative codes, regulations, procedures and code sections imposed by court decisions and the relevant authorities. The United States Tax Court handles any disputes regarding tax law. Appeals to decisions handed by the court can be lodged with the Federal District Court of Appeals. The cases can be forwarded to the United States Supreme Court for final review.

Hiring a tax attorney allows you to enjoy legal representation in cases involving tax disputes. The professionals provide much-needed assistance at different stages of the legal wrangle. From handling IRS administrative appeals to final reviews at the Supreme Court, you can count on tax lawyers to help you navigate this complex domain.

Probate Legal Services

Probate legal procedures cover processes involving the administering of inheritance cases. Attorneys help with resolution of disputes when it comes to claims against the estate of the deceased. They facilitate the distribution of the estate based on relevant laws. Testamentary probate proceedings are generally easier to handle because they involve a will. Meanwhile, intestate cases lack this aspect.

Best Tax Software Depends on Needs

Best Tax SoftwareOver the past decade or so there has been a big influx of tax software. A good portion of this is due to the proliferation of computers in the home. Easy access to computers have given people an advantage allowing them to circumvent many professionals once relied upon. Tax preparation is certainly one of those professions that, for many people, have become obsolete thanks to the home computer. With so many software options for tax preparation it is important to figure out the best software to file taxes. It should be a simple answer but the best software depends on your specific needs.

Several factors go into determining your needs and income level is a good starting point. Several legitimate companies base the cost of tax software upon how much you earned in the previous year. If your income is below a certain amount the software is either free or a reduced price. If your income is not at a level that receives reduced cost software, shop around to find a company that provides the best software for the best price. There are several legitimate companies that offer software online as well as on discs for download.

Another important factor to consider is your own tax education. How much you know about preparing taxes can change the type of software program needed. If you are a novice at preparing taxes it is important to select a program that walks you through the preparation in an interview type manner. There is more than one correct way to prepare taxes and novice programs limit your ability to dictate how you want your return prepared. If you have some knowledge of taxes select a program that allows for you to manipulate your taxes as you see fit. If you are extremely knowledgeable there are programs that are little more than a directory of forms that you can fill out on your computer as you see fit, no interview with automatically populates your return.

With all these factors considered sometimes the best software is in the form of a live person. If you have a highly complex tax situation such as a corporation, farm, and or rental properties it is probably just best to hire an experienced tax professional. Sometimes people are still smarter than computers.