The deadline for filing your individual federal income taxes is fast approaching. Here at LawInfo.com we try to make the filing process easier by offering a wide range of articles, videos, and answers to frequently asked questions regarding taxation and tax laws.

What is Tax Law?

In the U.S., tax law is divided into federal tax, state tax and local tax. Tax law involves the taxation of income, and real or personal property acquired through personal and professional efforts. In addition to income tax, there are many other kinds of taxes, including gift taxes.

Are Gifts Taxable?

You should consider all gift giving as taxable, with the exception of the following:

  • Gifts under a certain dollar amount
  • Tuition or medical expenses that is paid for someone else
  • Gifts to spouse
  • Gifts to a political organization

Deadline to File Your Taxes:

The deadline to file your federal individual income tax return for 2012 is April 15, 2013.

Common Tax Forms You Should File:

  • W-2
  • 1098
  • 1098-E, if you have student loans

How Can a Taxation Lawyer Help?

Failing to properly file your taxes can result in penalties and even imprisonment.  A tax attorney can help you reduce your tax liability and help you avoid making any filing mistakes.  Moreover, tax attorneys are well versed with IRS rules and regulations.  Hire a qualified tax attorney today to ensure you are protected from the IRS.

Facebook
Twitter