Taxation

Tax law encompasses the laws and regulations applicable to taxation. The two areas of tax law familiar to most people are federal (and sometimes state) income taxes and real property taxes. Lessening your chance of being audited by the Internal Revenue Service (IRS) depends on a number of factors, including the tax deductions you report. But surviving an audit may simply be a matter of following a few simple rules and keeping in mind that you will have an opportunity to appeal the assessment if you disagree with it. The same is true of a property tax appeal - you will have an opportunity to present evidence to the body making the assessment as to why the assessment is improper. You may have a right under state law to appeal the final decision.

Find an Taxation attorney in your area.

	Latest Law Research and Information
	Legal articles focusing on Taxation Law Income Taxation of Your Bankruptcy Estate When you file for bankruptcy, your assets form what's called your bankruptcy estate. The bankruptcy estate is treated as a separate entity for federal income tax purposes. You should be familiar with how your bankruptcy estate will be taxed, and what this could mean for your individual taxes. Are Attorney's Fees Tax Deductible? Sometimes you have a legal problem or question and you need an attorney, such as a divorce, an injury from a car accident, or help drafting a lease for a house you want rent out. Of course, you have to pay for the legal services, and so you may ask: Is there a tax deduction for attorney fees? Changing Your Accounting Method Once a company has set up its accounting method, it must get approval from the IRS before it can change to another method by filing Form 3115. If a company doesn't regularly use an accounting method that clearly reflects its income, the IRS will refigure the company's income under another method.