Tax attorneys are professionals who specialize in tax laws and regulations. They help individuals, businesses and organizations understand their tax obligations and comply with them. Tax attorneys also represent clients in disputes with the Internal Revenue Service (IRS) and other government agencies. Given the level of complexity involved in tax law, tax attorneys are highly sought after, and they tend to have higher-than-average pay.
How Much Do Tax Attorneys Make?
Tax attorneys typically earn a high salary. According to the U.S. Bureau of Labor Statistics (BLS), the median annual wage for tax attorneys in 2018 was $84,420. The BLS also reported that the highest 10 percent earned an average of $172,250, whereas the bottom 10 percent earned an average of $45,750.
While tax attorneys generally make a good wage, there are some drawbacks to this profession. For starters, the job requires a significant amount of education and training. Tax attorneys are required to hold a Juris Doctor (JD) degree and must pass the bar exam. Additionally, tax attorneys typically specialize in one of several specific areas, such as estate tax, income tax, international tax, and business tax. This means they must also stay up-to-date with the latest laws and regulations in their particular specialization.
Another disadvantage is that the job often involves long hours and time away from home. Tax attorneys may be required to review documents, meet with clients, and attend court hearings. As a result, they often have to work late nights, weekends, and holidays. This can be especially difficult when they have families to care for.
Finally, tax attorneys may also experience job-related stress. Not only are they expected to remain knowledgeable in their specific specialization, but they must also stay current on the constantly changing tax laws and regulations.
Story from History
The history of tax attorneys dates back many centuries. In fact, the earliest recorded tax attorney was a man named Julius Sabinus. He lived in the first century C.E. and offered legal advice on how to reduce or eliminate a person’s tax burden. Over the centuries, tax attorneys have continued to provide individuals, businesses, and organizations with advice and representation. Today, tax attorneys are an important part of the tax system as they help ensure that individuals and organizations comply with the law.
Tax attorneys are highly sought after professionals who specialize in tax laws and regulations. They typically earn high salaries and serve an important role in the tax system. That said, there are some drawbacks to this profession, including the long hours and time away from home, and the stress associated with staying up to date on the ever-changing tax laws.