What is the Best Way to Learn Tax Law?
Are you considering entering the world of tax law? The pathways to becoming a tax expert are diverse and can vary widely depending on your motivations and background. Whether you want to assist in tax preparation, resolve complex tax disputes, or provide legal advice to clients, there are several routes you can take. In this article, we'll explore the most effective methods to learn tax law and the pathways you can follow.
Commercial Services vs. Deep Understanding
One of the easiest ways to deal with taxes is to simply use a commercial tax service. These services are designed to handle all the intricacies of tax law and will guide you through the process efficiently. All you need to do is fill out the forms they provide, and they will take care of the rest. This approach is ideal if you have a busy schedule or simply do not want to deal with the complexities of tax law personally.
Understanding the Underlying Principles
However, if you are truly interested in understanding tax law, it is essential to delve deeper and grasp the reasons behind the laws. Understanding the “why” of tax law can significantly enhance your learning experience. Laws are not abstract; rather, they have logical reasoning rooted in societal needs and objectives. By understanding the rationale behind a law, you can better apply it and navigate its complexities.
Education Pathways
Another effective way to master tax law is through formal education. You can pursue a JD (Juris Doctor) and pass the state's bar exam. Alternatively, you could opt for an undergraduate degree in accounting followed by a Master of Taxation (MTA) or law degree. Both paths can provide you with the necessary theoretical and practical knowledge to excel in the field of tax law.
Practical Experience
In addition to formal education, hands-on experience is crucial. Working at a reputable tax preparation firm or a top-tier tax law firm can give you invaluable experience. You can learn firsthand how tax laws are applied in real-world scenarios and gain insight into the challenges faced by clients. Many tax companies also offer training programs for those who are willing to commit to working with them for a certain period.
Professional Qualifications
To practice in tax court, you need additional qualifications. After completing your education and gaining practical experience, you can take the special enrollment examination administered by the IRS every two years. This examination tests your knowledge of court procedures and rules of evidence, enabling you to practice in tax court.
Why Learn Tax Law?
Deciding to learn tax law for specific reasons can guide your path. If your goal is to fill out your own tax forms, you can use a tax program to handle the process. However, if you want to do taxes for others, commercial tax services and training programs can be valuable. Another path is to get an accounting degree and become a CPA (Certified Public Accountant), which can open up opportunities in corporate tax preparation.
Conclusion
Mastering tax law is a rewarding journey that requires dedication, education, and practical experience. Whether you choose to use commercial services, gain a deep understanding of the underlying principles, or pursue formal education and professional qualifications, there are numerous pathways to achieving your goals. By choosing the right method and pathway, you can become a knowledgeable and competent tax professional.