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August 24, 2010
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Welcome to Evansville 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 Indiana
Total Internal Revenue collections [2] 32,192,435
Corporation income tax [3] 2,270,997
Total [4,5] 29,079,537
Income tax not withheld and SECA tax [4,5] 4,057,464
Income tax withheld and FICA tax [4] 24,885,972
Railroad retirement tax 20,008
Unemployment insurance tax 116,093
Estate Tax 317,336
Gift Tax 19,230
Excise Taxes[2] 505,334

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 Evansville 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 Evansville 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 Evansville Taxation Lawyer Now!

 
Evansville 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
 
 
Evansville External Sites    
 
 

Indiana Department of Revenue - Businesses - Sales Tax
The Indiana Department of Revenue is the state agency that administers the tax laws of the State of Indiana. Some of the taxes administered by this a
Individual Income Tax Indiana Code, Administrative Code
Indiana Adjusted Gross Income Tax Rate. IC 6-3-2-1. 45 IAC 3.1-1-5. Individual Defined. IC 6-3-1-9. Individual Development Account. IC 6-3.1-18 ...

 


 

  Newsroom  
 


News about Taxation cases in Evansville and nationwide:

Job Creation and Retention Tax Credits Approved for Business Expansion
Job Creation and Retention Tax Credits Approved for Business Expansion

Columbus, OH -- Governor Bob Taft today announced t...

Read more >


IRS Works With Associations to Help Hurricane-Affected Taxpayers
IR-2006-43, March 13, 2006

WASHINGTON — The Internal Revenue Service announced today an agreement with two tax professional associations to...

Read more >


New IRS Study Provides Preliminary Tax Gap Estimate
WASHINGTON – The Internal Revenue Service released preliminary results today from a major research project assessing compliance with the tax laws. ...
Read more >


More Taxation News >

 
 

Taxation Terms

 


Today's Terms

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.

Electric and Clean-Fuel Vehicles

Definition:
For vehicles placed in service in 2004, the maximum clean-fuel vehicle deduction and qualified electric vehicle credit are scheduled to be reduced by 25%, as compared to 2003.

Federal income tax

Definition:
The federal government levies a tax on personal income. The federal income tax provides for national programs such as defense, foreign affairs, law enforcement, and interest on the national debt.

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 >

Evansville Taxation Attorney

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

  • Bloomington
  • Brownsburg
  • Carmel
  • Columbus
  • Connersville
  • Crawfordsville
  • Crown Point
  • East Chicago
  • Elkhart
  • Evansville
  • Fishers
  • Fort Wayne
  • Franklin
  • Goshen
  • Granger
  • Greenfield
  • Greenwood
  • Hobart
  • Huntington
  • Indianapolis
  • Jeffersonville
  • Kokomo
  • La Porte
  • Lafayette
  • Logansport
  • Marion
  • Martinsville
  • Merrillville
  • Michigan City
  • Mishawaka
  • Muncie
  • New Albany
  • New Castle
  • Newburgh
  • Noblesville
  • Peru
  • Plainfield
  • Portage
  • Richmond
  • Seymour
  • Shelbyville
  • South Bend
  • Terre Haute
  • Valparaiso
  • Vincennes
  • West Lafayette
 


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