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July 03, 2009
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Welcome to Iowa Tax Attorney.com

 

 
Did You Know?    
 
 
If you have employees, you are responsible for Federal Taxes
If you have employees, you are responsible for several federal, state, and local taxes. As an employer, you must withhold certain taxes from your employees pay checks. Employment taxes include the following. Federal income tax withholding Social Security and Medicare taxes Federal unemployment tax act (FUTA).

 



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 Iowa
Total Internal Revenue collections [2] 14,543,095
Corporation income tax [3] 1,626,888
Total [4,5] 12,661,060
Income tax not withheld and SECA tax [4,5] 1,923,959
Income tax withheld and FICA tax [4] 10,679,903
Railroad retirement tax 2,125
Unemployment insurance tax 55,073
Estate Tax 134,009
Gift Tax 2,953
Excise Taxes[2] 118,185

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 Iowa 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 Iowa 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 Iowa Taxation Lawyer Now!

 
Iowa 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
 
 
Iowa External Sites    
 
 

Iowa State Income Tax Information
Tax Withholding Table. If the Amount of Taxable Income Is:. The Amount of Iowa Tax Withholding Should Be:. Over:. But Not Over:. Of Excess Over: ...
EERE State Activities and Partnerships: Iowa Extends Pr
Iowa Extends Production Tax Credit to Include Solar and Biomass. June 15, 2005. Iowa Governor Tom Vilsack signed a bill on June 15 that extends wind

 


 

  Newsroom  
 


News about Taxation cases in Iowa and nationwide:

Chicago Attorney Sentenced To Prison For Tax Evasion
Robert Wayne Hallock, an attorney from Chicago, Ill., was sentenced today in federal court for attempting to evade taxes on more than $1 million in...
Read more >


New Law Revamps IRS Offer In Compromise Program
WASHINGTON — Under a new federal law, taxpayers submitting new offers in compromise must make a 20 percent nonrefundable, up-front payment in many ...
Read more >


Understanding the Tax Gap
The Internal Revenue Service developed the concept of the tax gap as a way to gauge taxpayers’ compliance with their federal tax obligations. The t...
Read more >


More Taxation News >

 
 

Taxation Terms

 


Today's Terms

Limited Liability Company

Definition:
An LLC may be classified for Federal income tax purposes either as a partnership, a corporation, or an entity disregarded as an entity separate from its owner by applying the rules in Regulations section 301.7701-3. See Form 8832, Entity Classification Election, for more details.

Income taxes

Definition:
Taxes on income, both earned (salaries, wages, tips, commissions) and unearned (interest, dividends). Income taxes can be levied on both individuals (personal income taxes) and businesses (business and corporate income taxes).

Dependency exemption

Definition:
Amount that taxpayers can claim for their eligible dependents. Each exemption reduces the income subject to tax. The exemption amount is a set amount that changes from year to year.

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 >

Iowa Taxation Attorney

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

  • Ames
  • Ankeny
  • Bettendorf
  • Burlington
  • Cedar Falls
  • Cedar Rapids
  • Clinton
  • Council Bluffs
  • Davenport
  • Des Moines
  • Dubuque
  • Fort Dodge
  • Iowa City
  • Marion
  • Marshalltown
  • Mason City
  • Muscatine
  • Newton
  • Ottumwa
  • Sioux City
  • Urbandale
  • Waterloo
  • West Des Moines
 


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