Tax Law

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withoutapaddle
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Tax Law

Postby withoutapaddle » Thu Oct 31, 2013 2:45 pm

Can anyone advise on if tax law is a good law concentration? How is the salary and job prospects?

I've been reading a little about it, and it seems like it's not a concentration many law students do.

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Danger Zone
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Re: Tax Law

Postby Danger Zone » Thu Oct 31, 2013 3:17 pm

withoutapaddle wrote:seems like it's not a concentration many law students do.

Because it's fuck awful.

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stillwater
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Re: Tax Law

Postby stillwater » Thu Oct 31, 2013 3:18 pm

Danger Zone wrote:
withoutapaddle wrote:seems like it's not a concentration many law students do.

Because it's fuckin awful.

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withoutapaddle
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Re: Tax Law

Postby withoutapaddle » Thu Oct 31, 2013 4:01 pm

It's that bad?

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kalvano
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Re: Tax Law

Postby kalvano » Thu Oct 31, 2013 4:37 pm

It's steady work and there is a demand for tax attorneys. But the work is fucking terrible.

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YankeesFan
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Re: Tax Law

Postby YankeesFan » Thu Oct 31, 2013 4:47 pm

Also, many tax-centric firms, at least the smaller or mid-sized ones, require or strongly desire that you have or start working on a tax LLM before you are allowed to take on substantive tax matters.

melodically
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Re: Tax Law

Postby melodically » Thu Oct 31, 2013 4:50 pm

I'm a paralegal at a tax firm and most people here seem to really enjoy it. It's highly technical and ever-changing, but the demand for work is very steady. Hours are more constant and predictable than many other practice areas. Firm is a ghost town on weekends and late on weeknights. There are also numerous niche practice areas within tax -- tax controversy, international tax planning, trusts and estates, employee benefits, exempt organizations, tax litigation, etc.

FWIW, I plan to pursue tax work, though I'm keeping my options open.

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nealric
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Re: Tax Law

Postby nealric » Thu Nov 07, 2013 8:57 pm

I am a tax lawyer. Started at a big firm, now in-house. Tax is absolutely one of the best specialties. Attitudes like Danger Zone's help keep it that way. Keep in mind that any field of law is going to be technical and occasionally boring. If you think the tax code is boring, check out the administrative procedure act, the uniform commercial code, or any of the SEC acts. None of them are going to be fascinating if you aren't playing the game. It's like chess. The rules may be boring, but the game can be interesting.

Tax law has the advantage of being creative and requiring a large body of substantive knowledge to practice effectively. A good tax lawyer could easily transition to a general corporate practice, but the reverse cannot be said for a general corporate lawyer. As a result, compensation tends to be higher. Although in in biglaw, associates are paid lockstep, the tax partners usually command higher billing rates and are often compensated accordingly. In house, tax tends to be well compensated because of the scarcity of skilled practitioners and because of the obvious value-add they can bring. It's not often that a corporate lawyer can tell their client that they saved them tens of millions of dollars.

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McGruff
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Re: Tax Law

Postby McGruff » Fri Nov 08, 2013 2:48 pm

nealric wrote:If you think the tax code is boring, check out the administrative procedure act, the uniform commercial code, or any of the SEC acts. None of them are going to be fascinating if you aren't playing the game. It's like chess. The rules may be boring, but the game can be interesting.


I am definitely stealing that analogy, tyvm

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Danger Zone
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Re: Tax Law

Postby Danger Zone » Fri Nov 08, 2013 2:53 pm

Aside from being terribly boring, tax law is an area that is always changing and usually doing so for very bad reasons. It's one area of law that consistently violates its own principles (i.e. efficiency, fairness) in order to appease political factions and big corporations. So even if you find the field interesting (somehow), this stuff may get under your skin.

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McGruff
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Re: Tax Law

Postby McGruff » Fri Nov 08, 2013 3:05 pm

Danger Zone wrote:Aside from being terribly boring, tax law is an area that is always changing and usually doing so for very bad reasons. It's one area of law that consistently violates its own principles (i.e. efficiency, fairness) in order to appease political factions and big corporations. So even if you find the field interesting (somehow), this stuff may get under your skin.


How many well-paying areas of law are there about which this wouldn't also be true? Serious question. I don't know much about practice areas so I might be naive, but it seems like your lament that, as commonly used by political factions and big corporations, its practice violates its principles, would be true of lots of kind of law. Am I wrong? Why is tax different/worse?

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Danger Zone
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Re: Tax Law

Postby Danger Zone » Fri Nov 08, 2013 3:20 pm

I had anticipated that response, and the answer is simple: tax law does so more consistently than other areas.

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McGruff
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Re: Tax Law

Postby McGruff » Fri Nov 08, 2013 3:40 pm

Danger Zone wrote:I had anticipated that response, and the answer is simple: tax law does so more consistently than other areas.


Yeah, well, I anticipated THAT response, and MY answer is even simpler: meh.

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stillwater
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Re: Tax Law

Postby stillwater » Fri Nov 08, 2013 3:42 pm

I anticipated this entire exchange between DZ and McGruff. My response to law generally is "meh."

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Danger Zone
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Re: Tax Law

Postby Danger Zone » Fri Nov 08, 2013 3:42 pm

stillwater wrote:I anticipated this entire exchange between DZ and McGruff. My response to law generally is "meh."

Except property FUCK YEAH COMMON LAW

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stillwater
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Re: Tax Law

Postby stillwater » Fri Nov 08, 2013 3:43 pm

Danger Zone wrote:
stillwater wrote:I anticipated this entire exchange between DZ and McGruff. My response to law generally is "meh."

Except property FUCK YEAH COMMON LAW


Exposed!!!!




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