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August 24, 2010
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Welcome to West Virginia Taxation Lawyers.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 West Virginia
Total Internal Revenue collections [2] 5,226,420
Corporation income tax [3] 249,566
Total [4,5] 4,818,131
Income tax not withheld and SECA tax [4,5] 784,599
Income tax withheld and FICA tax [4] 4,013,765
Railroad retirement tax 464
Unemployment insurance tax 19,302
Estate Tax 63,725
Gift Tax 3,099
Excise Taxes[2] 91,899

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 West Virginia 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 West Virginia 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 West Virginia Taxation Lawyer Now!

 
West Virginia 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
 
 
West Virginia External Sites    
 
 

WV Department of Revenue
WV Revenue Home Page, Agencies, About Us, Policies, Links.
WV Dept. of Revenue
The Department of Revenue, previously known as the Department of Tax and ... for all issuers of general obligation bonds issued by West Virginia coun

 


 

  Newsroom  
 


News about Taxation cases in West Virginia and nationwide:

Late Tax Scam Discovered; Free File Users Reminded To Use IRS.gov
The Internal Revenue Service learned late Friday of a new tax scam on the Internet that lures taxpayers into filing tax information on a site masqu...
Read more >


Morgan County Businessman Pleads Guilty To Sales Tax Fraud
Today Charles William Jackson, owner of CJ's Bar & Grill located at 4532 Knoxville Highway in Oliver Springs, Tenn., pled guilty to one count o...
Read more >


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 >


More Taxation News >

 
 

Taxation Terms

 


Today's Terms

Dependent

Definition:
A person, other than the taxpayer or spouse, who entitles the taxpayer to claim a dependency exemption.

Depreciation and Section 179 Expense

Definition:
50% special depreciation allowance. For qualified property you acquire after May 5, 2003, you can take a special depreciation allowance that is equal to 50% of the property's depreciable basis. However, instead of claiming the 50% special allowance, you can elect to claim the 30% special allowance or elect not to claim any special allowance.

Subchapter S

Definition:
The S-Corporation must complete and file IRS Form 1120s to report its annual income to the IRS each 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 >

West Virginia Taxation Attorney

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

  • Barboursville
  • Beckley
  • Bluefield
  • Bridgeport
  • Buckhannon
  • Charles Town
  • Charleston
  • Clarksburg
  • Elkins
  • Elkview
  • Fairmont
  • Grafton
  • Harpers Ferry
  • Huntington
  • Hurricane
  • Keyser
  • Logan
  • Martinsburg
  • Morgantown
  • Moundsville
  • Oak Hill
  • Parkersburg
  • Princeton
  • Saint Albans
  • Vienna
  • Weirton
  • Wellsburg
  • Wheeling
 


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