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July 20, 2010
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Welcome to Tennessee Tax Lawyer.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 Tennessee
Total Internal Revenue collections [2] 36,802,257
Corporation income tax [3] 3,292,517
Total [4,5] 32,601,321
Income tax not withheld and SECA tax [4,5] 4,256,442
Income tax withheld and FICA tax [4] 28,182,375
Railroad retirement tax 2,037
Unemployment insurance tax 160,467
Estate Tax 293,396
Gift Tax 11,981
Excise Taxes[2] 603,042

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 Tennessee 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 Tennessee 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 Tennessee Taxation Lawyer Now!

 
Tennessee 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
 
 
Tennessee External Sites    
 
 

Tennessee Department of Revenue
These pages contain comprehensive information about taxes collected by the Tennessee Department of Revenue, Tax Reform, Tax Charts, and information a
Forms
TENNESSEE TAX FORMS. All forms are in PDF format. Tax forms are continually being added to this Web site for your convenience. ...

 


 

  Newsroom  
 


News about Taxation cases in Tennessee and nationwide:

E-File Returns Running At Record Pace
The Internal Revenue Service announced today that taxpayers are continuing to electronically file their tax returns at a record pace, up almost 6 p...
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 >


No Taxation Without Explanation

The report highlights NYC's unique tax diversity. While other large cities tend to rely primarily on just two taxes-most often property and sal...

Read more >


More Taxation News >

 
 

Taxation Terms

 


Today's Terms

Compulsory payroll tax

Definition:
An automatic tax collected from employers and employees to finance specific programs.

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.

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 >

Tennessee Taxation Attorney

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

  • Antioch
  • Brentwood
  • Bristol
  • Chattanooga
  • Clarksville
  • Cleveland
  • Clinton
  • Collierville
  • Columbia
  • Cookeville
  • Cordova
  • Dayton
  • Dyersburg
  • Elizabethton
  • Franklin
  • Gallatin
  • Goodlettsville
  • Hendersonville
  • Hermitage
  • Hixson
  • Jackson
  • Johnson City
  • Kingsport
  • Knoxville
  • Lebanon
  • Madison
  • Maryville
  • Mc Minnville
  • Memphis
  • Millington
  • Morristown
  • Mount Juliet
  • Murfreesboro
  • Nashville
  • Oak Ridge
  • Shelbyville
  • Smyrna
  • Soddy Daisy
  • Springfield
  • Tullahoma
 


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