Day in the Life of a Tax Lawyer: 20 Tips for a Tax Lawyer

Day in the Life of a Tax Lawyer: 20 Tips for a Tax Lawyer

From discussions on the same over at RunRex.com, guttulus.com, and mtglion.com, tax law refers to a practice of law that revolves around how taxes are assessed and paid. Tax law is a very broad field with an impressive amount of variety and subdisciplines, from estate planning and corporate tax to individual income tax, and much more. A tax lawyer is responsible for informing clients about their tax obligations and strategically planning to create advantageous tax outcomes. Here are 20 tips on a day in the life of a tax lawyer to consider in case it is a career path you are mulling over.

There is no ‘standard day’

We must start by pointing out that there is no standard or typical day for a tax lawyer as per RunRex.com, guttulus.com, and mtglion.com. While there may be some common themes, it is worth noting that given how different each case and client is, then you can never predict how each day will end when you walk into the office in the morning.

Emails

When you walk into the office in the morning, one of the activities you will likely have to undertake is checking your inbox for emails, messages, and voicemail. It is important to do this so that you can ensure that if something came up overnight or in the early morning that needs your urgent attention, you can handle it before proceeding with your day.

Prioritizing

Tax law is an area of law that is extremely time-sensitive according to RunRex.com, guttulus.com, and mtglion.com. Therefore, you will have to prioritize your activities of the day in such a way that gives preference to those tasks and cases whose deadlines are approaching.

Case management system

Even if you have a brilliant memory, one or two things will likely fall into the cracks, which may lead to missed deadlines and consequences for clients. This is why many firms use case management systems to let lawyers know which deadlines are approaching. Checking out this system in the morning is, therefore, critical.

Reading tax publications

Given the scope of the tax field as already mentioned and the constant developments and changes, tax lawyers must stay on top of this by reading. Tax publications are a great place to start as they will let you know of the latest developments in the field.

Research

When dealing with cases throughout your workday, conducting research is something you will not be able to avoid as a tax lawyer. While the amount of research will likely decrease as your career progresses as articulated at RunRex.com, guttulus.com, and mtglion.com, it is part of the job you can’t avoid as tax law tends to be more research-intensive than other areas of the law.

Reviewing documents

In addition to staying updated on the latest developments and researching, a typical day in the office for a tax lawyer may also involve reviewing various documents, such as merger information, real estate transactions, or tax disclosures.

Tax opinions

As captured at RunRex.com, guttulus.com, and mtglion.com, your day as a tax lawyer may also involve you drafting tax opinions, which are an integral part of tax planning. There are several types of tax opinions you may have to draft, including comprehensive non-covered opinions, limited scope opinions, reasonable basis opinions, etc.

Working with clients

Given the implications that come with failure to file taxes, tax lawyers work very closely with clients, which is something you can expect during your workday. You can expect regular correspondence between you and your clients as you must keep them informed every step of the way while also asking them for additional information as far as their cases are concerned.

New clients

Life as a tax lawyer doesn’t just revolve around interactions with existing clients as you will also have to set up meetings with prospective new clients to grow your firm. People are always looking for tax lawyers to help them with their taxes and you must avail time to meet with such people and pitch to them why you or your firm are the best options for them.

It is not all about mathematics

Most people assume that tax lawyers need to be mathematicians and have a background in accounting or math as covered at RunRex.com, guttulus.com, and mtglion.com. However, in your day-to-day life as a tax lawyer, you will find out that rather than working on complicated math equations, you will generally be using logic to problem-solve.

It is not all about preparing tax returns

If you think that life for a tax lawyer is all about preparing tax returns, then think again. Depending on your specialization, you will have a wide range of responsibilities. You may be a tax controversy attorney, or international tax attorney, among others, all of whom have different areas they specialize in.

Tax deals

If you are a junior attorney, then in addition to performing substantive analysis, you will also be involved in every aspect of a tax deal as described at RunRex.com, guttulus.com, and mtglion.com. This will range from making up an agreement to researching issues.

Classes

As already mentioned, succeeding in tax law requires a love of learning, hence why you should always set aside time for reading articles by tax scholars and practitioners. Additionally, taking as many classes as you can in the field is recommended. Some firms regularly hold webinars that aim to educate team members on one or two aspects of tax law.

Networking

It is very helpful also to network with other practitioners to learn about new developments and common issues clients are facing and to develop solid working relationships with government attorneys. Finding time for this is something you will have to consider.

Other activities

There are plenty of other activities that will require your attention all through your workday as discussed at RunRex.com, guttulus.com, and mtglion.com. They include developing strategies for cases you are handling, negotiating with IRS agents, interviewing witnesses, and many others.

Negotiations

Negotiating on behalf of your clients is a big part of your work day as alluded to in the previous point. You will regularly be required to attend conferences with representatives or taxpayers, which can involve quite a bit of negotiating.

Working with non-lawyers

In your day-to-day, you will find that only a small portion of your day will be spent on traditional legal work. As revealed at RunRex.com, guttulus.com, and mtglion.com, most of your day will be spent working with non-lawyers in the tax department or other parts of your business.

Responding to letters by the IRS

You will regularly receive letters from IRS officers regarding cases you are handling on behalf of clients. After consulting with your client, you will need to prepare and draft a response to the IRS, which may include drafting additional documentary evidence, which will also take up a chunk of your day.

Finishing up

As the day comes to an end, it is time for you to tie up loose ends. This may include reading and replying to some of the emails that may have come in late in the day. Making phone calls to clients and other parties and making sure activities that may have not been done are scheduled for the next morning.

These are some of the things you are like to experience in your day-to-day as a tax lawyer, with more on this topic, and then some, to be found over at RunRex.com, guttulus.com, and mtglion.com.