The Boston Tea Party was not a protest against a tax increase, but a tax cut that benefited the East India Company. The Sons of Liberty were against being taxed without colonial representation. The protest was initially ignored and the term “Boston Tea Party” was not used until the 1820s. On December 16, 1773, Samuel […]
The fiscal balance is when a country’s income and expenditure are equal. Governments receive money through taxes and non-tax revenues, and spend money on mandatory and discretionary spending. Tax policy varies worldwide, but taxes are the main source of income for most governments. Non-tax revenue includes profits from state-owned companies, fines, and fees. Governments spend […]
Corporate tax attorneys assist corporations in understanding and complying with complex tax codes. They help plan tax-saving decisions and coordinate compliance requirements to reduce tax rates and increase margins. Large companies often retain them as permanent staff, while small businesses may hire them on a contract basis. A corporate tax attorney is an attorney who […]
To become a tax return preparer, take a tax preparation course, research local requirements, and consider certification. Tax preparation courses cover different types of tax returns, regulations, and income reporting requirements. Certification establishes you as a professional and may require refresher courses. Registration with the local tax authority is often required before accepting payment. Set […]
To become a tax litigator, a law degree is required, along with knowledge and experience in tax litigation and negotiation skills. It is beneficial to take courses in tax law and gain experience in law firms specializing in tax negotiation. Tax litigators can work in law firms, government agencies, or open their own practices. Tax […]
There are various tax preparation jobs available, including tax preparer for a tax preparation office, registered agent, and tax accountant. Qualifications vary, but may require a finance-related degree or certification. Tax preparation companies often offer on-the-job training, while registered agents require training approved by the IRS. Tax accountants typically need at least an associate’s degree […]
Tax trainees work with experienced preparers and accountants to learn tax procedures. Requirements vary, but many need at least two years of college in accounting, math, or business. Trainees learn to prepare reports and use specialized software. A tax trainee works alongside experienced tax preparers and accountants to learn the procedures necessary for a tax […]
To become a tax agent, one should complete college training, practice at an industry service company, and obtain a license if required. Tax agent training programs are available at community colleges, professional schools, and tax preparation companies. Tax agents must have strong computer and interpersonal skills and keep up with developments in the field through […]
Tax inspectors in the UK work for HM Revenue & Customs to ensure everyone pays their fair share of tax. They review tax returns and perform audits to identify tax evasion, and may be involved in tax evasion lawsuits. A tax inspector works in the UK, helping the taxing body to ensure that everyone pays […]
County tax appraisers estimate property values for tax purposes. Certification requirements vary by location, but generally involve taking specified assessment courses and an exam. On-the-job training and a strong knowledge of real estate and tax codes are beneficial. Strong math, research, analysis, writing, communication, and computer skills are required. Continuing education is typically required to […]
Becoming a tax attorney requires a law degree and license, with further education in taxation, such as a Master of Laws degree. Tax attorneys can work in private firms or for government tax authorities, and should gain hands-on experience and seek out respected tax faculties while in school. The field is constantly changing and offers […]
There are different options for school tax deductions, including the tuition and fee deduction, which may expire in 2010, and the student loan interest deduction. Tax credits, such as the Hope Credit and Lifetime Learning Credit, may be more valuable. The tuition and fees deduction is available while attending school, but only for eligible expenses […]
Tax preparation can be intimidating, but courses at companies like H&R Block and Jackson Hewitt can teach the necessary skills. Tax preparers must be meticulous, good with numbers, and have people skills. No license is required, and seasonal jobs are available. Despite the variety of tax preparation software and how-to books that saturate the market, […]
International tax lawyers advise companies and individuals on tax structures in multiple countries, reconciling competing tax obligations and minimizing taxes owed. They identify tax liabilities and help companies and individuals minimize tax obligations. Some work in creating international tax policy or enforcing tax regulations for national governments. An international tax lawyer is a lawyer whose […]
An IRS tax lien can be issued if a taxpayer owes unpaid state or federal income tax. The lien can be released if the debt is paid, a bond is accepted, or special circumstances exist. A lien can be appealed or withdrawn if a payment plan is set up. The lien affects credit rating and […]
An inheritance tax is a tax on the estate of a deceased person. Some jurisdictions exempt certain types of estates or those below a certain value. Probate courts ensure taxes are paid and assets are distributed according to local laws. Intangible assets such as bank accounts are subject to inheritance tax, and rules may vary […]
In a civil case, the losing party must pay court costs to the winning party. The losing party can file a claim to reduce the costs, citing reasons such as ineligible expenses or insufficient documentation. The judge will rule on the matter within a set time limit. In a civil case, the losing party is […]
Tax courts are specialized courts that hear tax-related cases and settle disputes between citizens and the government. They are present in most countries, with some having separate tax divisions. Tax courts are presided over by judges with specific training in tax law and are designed to prevent mainstream court systems from being overwhelmed. There are […]
Corporate tax law is a set of regulations that allows governments to collect fees on business operations. It mainly deals with corporate income taxation, but also covers other types of taxes. The US has high corporate tax rates, leading many companies to challenge the government’s tax assessments and relocate to countries with more favorable tax […]
Corporate tax law is a set of regulations that allows governments to collect fees on business operations. It mainly deals with corporate income taxation and varies across jurisdictions. Companies may be required to pay income, sales, property, and employment taxes. The US has a high corporate income tax rate, and many companies are based in […]
