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"Tax code" redirects here. For the alphanumeric code used in the UK, see Tax code (PAYE).
The Internal Revenue Code is the statutory basis of federal tax law in the United States. The Code of Federal Regulations is the Internal Revenue Service's own regulatory interpretation of the federal tax laws passed by Congress, which carry the weight of law if the interpretation is reasonable. Case law in tax court and federal courts constitute the remainder of tax law in the United States.

Tax law is an area of legal study dealing with the statutory, regulatory, constitutional, and common-law rules that constitute the law applicable to taxation, which is the method by which the government levies on economic transactions.

Major issues[edit]

Primary taxation issues facing the governments world over include;

Tax education from law schools[edit]

In law schools, "tax law" is a sub-discipline and area of specialist study. Tax law specialists are often employed in consultative roles, and may also be involved in litigation. Many U.S. law schools require about 30 semester credit hours of required courses and approximately 60 hours or more of electives. Law students pick and choose available courses on which to focus before graduation with the J.D. degree in the United States. This freedom allows law students to take many tax courses such as federal taxation, estate and gift tax, and estates and successions before completing the Juris Doctor and taking the bar exam in a particular U.S. state.

There are many Master of Laws (LL.M) programs currently being offered in the United States, Canada, United Kingdom, Australia, Netherlands etc. Many of these programs offer the opportunity to focus on domestic and international taxation. In the United States, most LL.M. programs require that the candidate be a graduate of an American Bar Association-accredited law school. In other countries a graduate law degree is sufficient for admission to LL.M. in Taxation law programs.

Taxation by jurisdiction[edit]

See also[edit]


Original courtesy of Wikipedia: http://en.wikipedia.org/wiki/Tax_law — Please support Wikipedia.
This page uses Creative Commons Licensed content from Wikipedia. A portion of the proceeds from advertising on Digplanet goes to supporting Wikipedia.

22867 news items

Reuters

Reuters
Tue, 29 Jul 2014 19:26:15 -0700

WASHINGTON (Reuters) - A 2009 law that raised federal taxes to discourage smoking cost the U.S. government billions of dollars in lost revenue as manufacturers relabeled products and consumers shifted to cheaper pipe tobacco and large cigars, the U.S. ...

Politico

Politico
Tue, 29 Jul 2014 09:29:47 -0700

A federal appeals court Tuesday rejected yet another legal challenge to Obamacare, ruling that it did not violate a constitutional provision that requires tax laws to be written in the House. Most of what became the Affordable Care Act was written in ...

International Business Times

International Business Times
Tue, 29 Jul 2014 08:33:38 -0700

Spain has passed a new law requiring websites that link to news stories first published by the Spanish newspaper association to pay a tax for that hyperlink, a law that targets Google (NASDAQ:GOOG) and other Internet newsfeeds that feature journalism ...
 
NJBIZ
Tue, 29 Jul 2014 09:30:00 -0700

The New Jersey Retail Merchants Association will lobby federal lawmakers Tuesday and Wednesday to pass online sales tax legislation currently facing delays. National retail groups believe legislation is needed for states to collect taxes from online ...
 
Champaign/Urbana News-Gazette
Mon, 28 Jul 2014 05:05:04 -0700

Delivering lectures on taxes others should pay isn't nearly as effective as revising the tax code. Illinois' Democratic U.S. Sen. Richard Durbin is running for re-election and that explains, at least in part, why he recently chastised Chicago-area ...

Businessweek

Investor's Business Daily
Mon, 28 Jul 2014 11:45:00 -0700

As Walgreen (NYSE:WAG) mulls whether to use a loophole in U.S. tax law to save millions of dollars by moving its headquarters to Europe, a former U.S. Treasury official argued the White House could close the loophole without congressional approval.

Bloomberg

Bloomberg
Thu, 24 Jul 2014 03:21:14 -0700

President Barack Obama attacked companies that use cross-border mergers to escape U.S. taxes, accusing them of being “corporate deserters who renounce their citizenship to shield profits.” In remarks at a technical college in Los Angeles today, the ...
 
MarketWatch
Fri, 25 Jul 2014 02:00:21 -0700

Robert Klein, CPA, PFS, CFP®, RICP®, CLTC, MBA, MST is the founder and president of Retirement Income Center, a retirement income planning firm located in Newport Beach, Calif. The firm specializes in innovative, conservative income management ...
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