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July 20, 2010
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Welcome to Alabama Tax Lawyers.com

 

 
Did You Know?    
 
 
Form 8308 is Report of a Sale or Exchange of Certain Partnership Interests
Report the sale or exchange by a partner of all or part of a partnership interest where any money or other property received in exchange for the interest is attributable to unrealized receivables or inventory items.

 



Tax Law is divided into both Federal Tax and State Tax, and involves the taxation of income and property acquired through personal and professional efforts. In addition to income tax, there is sales tax, gift tax, inheritance tax, capital gains tax, property tax, and a myriad of other areas of tax.

 
Tax collections shown for various States    
 
 
Amounts include adjustments to prior years made in Fiscal Year 2004. This could produce negative amounts of collections shown in the table.However, in a given fiscal year, refunds relating to prior fiscal years may be issued and subsequently recorded, and, therefore, the total refund amount may exceed the collection amount [Money amounts are in thousands of dollars.] in Alabama
Total Internal Revenue collections [2] 18,489,339
Corporation income tax [3] 1,931,414
Total [4,5] 16,205,117
Income tax not withheld and SECA tax [4,5] 2,855,521
Income tax withheld and FICA tax [4] 13,269,801
Railroad retirement tax 2,272
Unemployment insurance tax 77,524
Estate Tax 207,760
Gift Tax 8,053
Excise Taxes[2] 136,995

Source: Data 2004, Chief Financial Officer, Revenue Financial Management
 

Federal Income tax became law in 1913 when the Sixteenth Amendment to the U.S. Constitution was ratified. While some states do not have an income tax, all residents and citizens of the United States are subject to federal income tax. The more assets an individual owns, unfortunately, the more complicated the tax law becomes.

Congress writes the tax laws, which become part of the tax code. The Internal Revenue Service (IRS) is charged with interpreting the tax code. The IRS is a branch of the U.S. Treasury Department, with headquarters in Washington, D.C., and is ruled by a commissioner appointed by the President. Regional commissioners and district directors, also political appointees, oversee IRS operations.

Our Alabama Taxation Lawyers are willing to work for you. They can explain in detail the complex state and federal tax laws that affect you and your case. If you expect a high standard of quality from your legal representatives, then our Alabama Taxation Lawyers are the lawyers for you.

Taxation and Tax Law related topics:

  • Income Tax Cases
  • Recent Estate & Gift Tax Cases
  • Recent Income Tax Cases
  • State Statutes Dealing with Taxation
  • Corporate Taxation
  • International Taxation

Contact our Alabama Taxation Lawyer Now!

 
Alabama Audio & Video    
 
  Senate Republicans Seek End to Estate Tax
AUDIO, RM, 44Kbps, 7:08, 7/28/2005

The Senate is expected to vote this week on a proposal to repeal the estate tax. The tax has been in place for nearly a century. But times have changed and estate tax opponents are predicting victory
Source: NPR
 
 
Alabama External Sites    
 
 

Alabama State Income Tax Information
Tax Withholding Table Zero, Single, or Head of Household. If the Amount of Taxable Income Is:. The Amount of Alabama Tax Withholding Should Be: ...
Alabama Cities Income Tax Information
Alabama Cities Income Tax Information ... Apply the annual wages to the following guideline to determine the annual Alabama city income tax withholdi

 


 

  Newsroom  
 


News about Taxation cases in Alabama and nationwide:

Lake Worth Tax Return Preparer Convicted On Tax Fraud, Contempt Charges
Following a five-week trial, a federal jury in West Palm Beach has found defendant Louis Wayne Ratfield, a Lake Worth, Fla., tax return preparer, g...
Read more >


Is Estate Tax Reform Dead?
WASHINGTON, D.C. - Senate Republicans' attempt to push through a permanent cut in the estate tax before adjourning was nothing short of a...
Read more >


2005 Federal Earned Income Tax Credit
Earned Income Credit Amounts Increase

The maximum amount of income you can earn and still get the credit is higher for 2005 than it is for ...

Read more >


More Taxation News >

 
 

Taxation Terms

 


Today's Terms

Family daycare providers

Definition:
A family daycare provider is a person engaged in the business of providing family daycare.

Dependency exemption

Definition:
Amount that taxpayers can claim for their eligible dependents. Each exemption reduces the income subject to tax. The exemption amount is a set amount that changes from year to year.

Self-Employment Tax

Definition:
The self-employment tax rate on net earnings remains the same for 2003. This rate, 15.3%, is a total of 12.4% for social security (old-age, survivors, and disability insur­ance) and 2.9% for Medicare (hospital insurance).

More Taxation Terms >

 

Tax Legal Resources

 


Search Taxation legal resources in our resource center:

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Taxation Hot Topics

 
Topics Related to Taxation Law:
  • Income Tax Cases
  • Recent Estate & Gift Tax Cases
  • Recent Income Tax Cases
  • State Statutes Dealing with Taxation

More Tax Topics >

Alabama Taxation Attorney

 
If you live in the following cities and need an taxation attorney you should contact our Taxation Attorney as soon as possible:

  • Alabaster
  • Albertville
  • Alexander City
  • Anniston
  • Athens
  • Atmore
  • Auburn
  • Bay Minette
  • Bessemer
  • Birmingham
  • Cullman
  • Daphne
  • Decatur
  • Dothan
  • Enterprise
  • Fairhope
  • Florence
  • Fort Payne
  • Gadsden
  • Hartselle
  • Huntsville
  • Madison
  • Mobile
  • Montgomery
  • Opelika
  • Ozark
  • Pelham
  • Phenix City
  • Pinson
  • Prattville
  • Selma
  • Sylacauga
  • Talladega
  • Theodore
  • Trussville
  • Tuscaloosa
  • Wetumpka
 


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