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February 26, 2010
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Welcome to Milwaukee Tax Attorneys.com

 

 
Did You Know?    
 
 
There are tax rules if change in accounting method is made
Generally, the partnership must get IRS consent to change its method of accounting used to report income (for income as a whole or for any material item). To do so, it must file Form 3115, Application for Change in Accounting Method. See Form 3115 and Pub. 538, Accounting Periods and Methods.

 



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 Wisconsin
Total Internal Revenue collections [2] 34,711,183
Corporation income tax [3] 3,727,712
Total [4,5] 30,394,876
Income tax not withheld and SECA tax [4,5] 4,464,179
Income tax withheld and FICA tax [4] 25,794,265
Railroad retirement tax 4,204
Unemployment insurance tax 132,227
Estate Tax 267,919
Gift Tax 36,723
Excise Taxes[2] 283,954

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 Milwaukee 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 Milwaukee 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 Milwaukee Taxation Lawyer Now!

 
Milwaukee 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
 
 
Milwaukee External Sites    
 
 

Wisconsin.gov - - Business Forms
Links to State of Wisconsin business-related forms are consolidated on this page. For business-related federal tax forms, see IRS web site. ...
Wisconsin.gov - - Frequently Asked Questions - State of
How can I get Wisconsin tax forms and publications? ... Where can I find information on county property tax rates in Wisconsin? Sales Tax ...

 


 

  Newsroom  
 


News about Taxation cases in Milwaukee and nationwide:

Chicago Attorney Sentenced To Prison For Tax Evasion
Robert Wayne Hallock, an attorney from Chicago, Ill., was sentenced today in federal court for attempting to evade taxes on more than $1 million in...
Read more >


Trust Promoters Sentenced To Prison For Tax Fraud
WASHINGTON, D.C. - Five persons associated with Innovative Financial Consultants (IFC) were sentenced to lengthy prison terms for promoting a tax e...
Read more >


2004 Tax Law Changes
Education IncentivesThe maximum Tuition and Fees Deduction is $4,000 for those with Adjusted Gross Income (AGI) up to $65,000...
Read more >


More Taxation News >

 
 

Taxation Terms

 


Today's Terms

Partnership return

Definition:
If you need more time to file a partnership return, file Form 8736, Application for Automatic Extension of Time To File U.S. Return for a Partnership, REMIC, or for Certain Trusts, for an automatic 3-month extension. File Form 8736 by the regular due date of the partnership return.

Gross income

Definition:
Money, goods, services, and property a person receives that must be reported on a tax return. Includes unemployment compensation and certain scholarships. It does not include welfare benefits and nontaxable Social Security benefits.

Dependent

Definition:
A person, other than the taxpayer or spouse, who entitles the taxpayer to claim a dependency exemption.

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 >

Milwaukee Taxation Attorney

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

  • Appleton
  • Beloit
  • Burlington
  • Chippewa Falls
  • De Pere
  • Eau Claire
  • Fond Du Lac
  • Franklin
  • Green Bay
  • Janesville
  • Kenosha
  • La Crosse
  • Madison
  • Manitowoc
  • Marshfield
  • Menomonee Falls
  • Milwaukee
  • Neenah
  • New Berlin
  • Oak Creek
  • Oconomowoc
  • Oshkosh
  • Racine
  • Sheboygan
  • Stevens Point
  • Sun Prairie
  • Superior
  • Waukesha
  • Wausau
  • West Bend
  • Wisconsin Rapids
 


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