If you are looking for a different job that is not only challenging and paying but also that blends well with your interest, then you can consider becoming a tax attorney. Particularly if you like playing and working with numbers, then you have a reason for taking up a career as a tax attorney. Being one of the most difficult areas of law, you have to know even the minutest details about law and keep updating yourself on the ins and outs of tax law. To cut short, becoming a tax attorney is like becoming an attorney and an accountant, both at the same time. After your practice, you do not have to stick to one sector as there are several traditional and non-traditional sectors, like banks, real estate companies, insurance, administration, government, and teaching offering job opportunities for this position. Depending upon your cases and client, you can earn a decent amount of salary, which increases with experience.
Becoming A Tax Attorney
Eligibility
A candidate should have completed his high school and obtain a law degree with specialization in tax law. Apart from a law degree, an applicant should have undergone internship with a firm dealing with taxation law, so that he is prepared to serve his clients and businesses as a tax attorney. The internship will introduce the student to the world of taxation law and its various requirements. After you have completed all the educational qualifications, you have to get yourself registered in the state bar of your state. The state bar is the licensing agency through which you will attain your attorney license and the authority to practice. A course in finance or having some financial and accounting background, such as a Certified Public Accountant (CPA) will be an added advantage.
Courses Required
Obtaining a law degree from a reputed college is an expensive affair. Hence, if you can manage to get a scholarship, you can easily complete your law degree without worrying about the course fees. A law degree is a typically three or four years’ course. Besides, you can also obtain a master’s degree in tax, with a specialization in taxation. Emphasize on subjects like accounting, tax structuring, corporate tax, partnership tax, estate tax, and others.
Skills Required
A tax attorney should be skilful in terms of providing up-to-date information on taxation and tax law, analytical thinking, and dealing with the tax problems of the clients being faced with. He should be desirable of learning and updating himself with the new tax laws being introduced and added. Good communication skills and patience are two of the most important general skills, apart from technical ones required to qualify for a tax attorney since he would be dealing with clients who are illiterate in terms of tax preparation. As such, a number of questions and doubts are likely to arise which a tax attorney should dutifully clear. He should be good at math calculations as most of the work includes numbers and figures. Due to his nature of work, a tax attorney should be prepared to work for long hours and even on weekends to complete his research on the case he is presently handling.
Roles & Responsibilities
A tax attorney works as a liaison between the tax payer and the government helping the tax payers in providing advice, audit, and protecting from fines in other tasks. One of the most important responsibilities of a tax attorney is to deal with the tax issues of people and businesses successfully. He should be capable of handling revenue service issues and be able to provide information and advice on tax laws, whenever asked for. He must file the taxes of his clients and provide them relief as soon as possible. Since a tax attorney is involved with filing tax returns and managing legal documentation, he should know the rules and regulations associated with such issues and should be able to make others understand as well. Any modifications and additions in the tax laws should be informed to the clients. With so many complications in business, self-employment, large corporations, and individuals, a tax attorney helps in eliminating the confusion and insecurity of his clients and helps them stay within the prescribed rules of the law.
Career Prospects
After completing your law degree and internship, you can enter the field of taxation that is offering job opportunities for a tax attorney. As a tax attorney, you will have to constantly update yourself with the newest happenings and revisions in the tax law. By doing so, you will be able to convey and advise the same to your clients in the areas they need help and support. With many business organizations conducting their businesses with the help of tax attorney to stay away from law, there is a huge demand and need for tax attorneys in all industries. As such, businesses are highly reliable on tax attorneys for clearing all their legal issues and other-related tax matters. Depending upon your experience and interest, you can move towards a specialization, like family tax attorney, income tax attorney, international tax attorney, property tax attorney, tax litigation attorney, tax relief attorney, business tax attorney, corporate tax attorney, sales tax attorney, and criminal tax attorney.
With just five to six years of practice, you can reach great levels in terms of monetary stability and success. With a job like that of a tax attorney, you will never feel bored as you will be always occupied with background work preparing for the cases. With so many fields to choose from after you are an established tax attorney, you can easily lead a luxurious lifestyle.
