Tax law provides the rules taxpayers must follow when calculating, reporting, and paying their taxes each year. It is also the rules that state, local, and federal governments must follow in assessing and collecting taxes. The most comprehensive source of tax law is the Internal Revenue Code (IRC), which covers the procedures, policies, and penalties necessary for federal tax collection.
Nearly all Americans must file an individual income tax return with the Internal Revenue Service (IRS) each year. Even if you are one of the lucky few who does not need to file, either because you don’t have any income or for other reasons, it’s still a good idea to file a return. That’s because many federal benefits for low- to moderate-income taxpayers are based on your federal returns. For example, the earned income tax credit (EITC) can increase the size of your refund a great deal if you qualify.
All states have tax laws governing sales and property taxes. However, states that collect income taxes usually base their laws on those outlined in the Internal Revenue Code (IRC).
Meeting with a lawyer can help you understand your options and how to best protect your rights. Visit our attorney directory to find a lawyer near you who can help.
