What Is Federal Tax Law ?  

Federal tax law is a set of regulations that is owned by an authority primarily the government which has the right to impose income tax on individuals and businesses regardless of their origin of income. The origin of income could be from salary, property, services, capital gains, annulment or release of debts and earnings from interests.

The Federal income tax law oversees and regulates the Internal Revenue Service, which comprises of internal revenue codes, service regulations, revenue rulings, letter rulings and case laws.

Internal Revenue Codes -- It is a huge and multifaceted organization of law that is revised regularly.

Internal Revenue Service Regulations -- This constitutes the interpretations of codes. These interpretations become legally effective once they are adopted and published.

Internal Revenue Rulings -- Based on specific series of information the published ruling by IRS becomes the basis for judges to give rulings authoritatively.

Letter Rulings -- Based on published facts an IRS agent position to tax payer which binds the IRS.

Case Law -- Further the court structure is given a shape to help taxpayers to appeal various courts regarding issues related to tax. The different courts under the Federal income tax law are:

  • Tax Court -- It deals with the jurisdiction for an action which exists in Washington D.C and all those requests that are made to the U.S court of appeals. The tax payer can litigate before the payment of the tax.


  • Federal District Court -- This exists in the tax payer's district which enables the board of judges for carrying out trial in the district. Tax payer is required to pay the tax first and then plead in the court.



What Is Federal Tax Law

What-Is-The-Common-Body-Of-Tax-Law      A common body of tax laws is certain set of rules that enables an authority to claim or impose tax on individuals and businesses that are liable to pay a portion of their income to the authority who governs them. The power bestowed upon a government to claim for tax is generally acclaimed as their right under the system of Common Body of Tax Law. More..




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What Is Federal Tax Law ? )
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