Cecily Zamora
Tax law is a broad field, encompassing many different areas of law and legal practice. For lawyers looking to make the switch to tax law, there are a few different approaches that can be taken. Some sources suggest that getting another degree, such as a master's in accounting or a tax LLM, can open up more opportunities in the field. Others suggest that starting by applying for entry-level positions at small tax firms is a viable way to gain experience and make the transition to tax law. It is important to consider your specific interests and goals within tax law, as this can influence the steps you need to take to make the switch.
| Characteristics | Values |
|---|---|
| Qualifications | CPA, LLM, Master's in Accounting, or a degree in a related field such as Business Administration with a concentration in Finance |
| Experience | Litigation, personal injury litigation, or working at a tax firm |
| Approach | Apply for entry-level positions at small tax firms and work towards bigger firms |
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What You'll Learn
Entry-level positions at small tax firms
To switch to tax law, one recommended approach is to start by applying for entry-level positions at small tax firms. This can be a great way to get your foot in the door and gain valuable experience in the field.
For example, as an Entry-Level Seasonal Tax Preparer, you may conduct one-on-one tax interviews with clients, develop your book of business, and provide excellent customer service. Other entry-level tax roles include Tax Associate, Tax Consultant, and Tax Analyst. These roles can provide a strong foundation for a career in tax law, allowing you to develop analytical skills, gain a deeper understanding of tax planning and reporting, and work under the guidance of more experienced professionals.
While some sources suggest that additional degrees or certifications may be beneficial for a career in tax law, entry-level positions at small firms may not always require them. However, a bachelor's degree in a business-related field with an emphasis on tax or a background in accounting or finance may be advantageous.
Overall, starting with entry-level positions at small tax firms can be an excellent strategy for transitioning into the field of tax law, allowing you to gain practical experience, develop valuable skills, and build a strong foundation for career advancement.
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Getting a CPA or LLM
If you're considering a career in tax law, you may be wondering if you need to pursue a CPA (Certified Public Accountant) or an LLM (Master of Laws) qualification. While the specific requirements can vary depending on your location and the type of firm you want to work for, here's a guide to help you understand the benefits of obtaining a CPA or LLM and how to go about it.
Firstly, it's important to understand the difference between a CPA and an LLM. A CPA qualification demonstrates expertise in accounting and tax, while an LLM in Taxation provides advanced knowledge in the field of tax law. Both qualifications can enhance your career prospects in the field of tax, but they serve different purposes.
Obtaining a CPA license can be beneficial if you want to work in both the financial and legal fields. By combining a CPA license with a Juris Doctor (JD) degree, you can offer comprehensive services to clients, helping them with their taxes and any legal issues related to taxes and finances. This unique combination is highly valued by certain firms and can expand your career options. However, it's worth noting that some sources indicate that a CPA is not always necessary for working in tax law and may be more advantageous for advancing in a public accounting firm.
On the other hand, an LLM in Taxation is often preferred by tax law firms. This qualification demonstrates a strong foundation in tax law and can open up a wide range of career opportunities. While it is not always mandatory, it can set you apart from other candidates and make you more competitive in the job market. The LLM in Taxation is usually completed on a full-time or part-time basis, offering flexibility for those already working in the field.
If you decide to pursue a CPA, it's important to check the specific requirements of your state, as each state sets its own licensure rules. Most states require a JD degree to practice law, but not all states mandate a master's degree in accounting for CPAs. However, you will need to pass the CPA exam, which consists of multiple sections covering core accounting and tax principles.
For an LLM in Taxation, there are several reputable institutions offering this qualification, including NYU School of Law and Loyola Law School Los Angeles. These programs provide a range of courses taught by specialists and experienced practitioners, allowing you to tailor your learning to your interests and career goals. The LLM in Taxation will equip you with the knowledge and skills to handle real-world tax scenarios and can significantly enhance your employability in the field of tax law.
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Internships
Office of Tax Appeals (OTA)
The OTA in California offers internships for law students, accepting 1-4 interns per semester. Applicants must submit a cover letter, resume, unofficial transcript, and writing sample. Interns are exposed to various activities and are supervised by an attorney.
Franchise Tax Board (FTB)
The FTB in California offers internships that provide an opportunity to gain experience in tax law. Interns are assigned to a particular bureau based on their interests and the needs of the Legal Division. They work under the supervision of an attorney and receive assignments from that bureau.
PricewaterhouseCoopers (PwC)
PwC offers a Tax JD Internship that focuses on providing advice and guidance to clients on tax planning, compliance, and strategy. Interns work on a variety of assignments and are encouraged to take initiative. To apply, candidates must meet educational requirements and demonstrate a commitment to taking the Bar exam.
U.S. Department of the Treasury
The Treasury offers a volunteer summer internship program for law students in Washington, D.C. Applicants must submit their materials through USAJobs and email. Interns have the chance to improve their research and writing skills and observe the practice of law in a federal agency.
U.S. Department of Justice (DOJ)
The DOJ's Tax Division employs paid and volunteer law student interns through the Pathways Internship Program and the Summer Law Intern Program (SLIP). Interns work closely with Division attorneys and are often asked to research legal issues. Applicants must have a strong academic record and excellent research and writing skills.
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Tax law specialisations
Tax law is a unique field that intersects with almost every other area of law. This includes corporate law, health law, energy and environmental law, and personal injury law. Due to its ubiquitous nature, knowledge of tax law is beneficial for a career in tax law or as a supplement to another legal field.
Tax lawyers often focus on a specific area within the field of tax law. Some of these specialisations include corporate tax, international tax, partnership tax, tax litigation, state and local tax, personal tax, and executive compensation and benefits.
Corporate tax lawyers advise corporations, partnerships, and other businesses on tax matters. They may also be involved in complex transactions, such as mergers and acquisitions, and provide guidance on the tax implications of these deals.
International tax lawyers focus on the tax laws and regulations of different countries and how they interact. They help multinational corporations and individuals comply with tax obligations in multiple jurisdictions, transfer pricing, and cross-border transactions.
State and local tax (SALT) lawyers work with individuals and businesses to navigate the tax laws and regulations specific to a particular state or local area. They may advise clients on property taxes, sales and use taxes, and state income taxes. Smaller cities may have more work in the SALT area.
Personal tax lawyers assist individuals with their personal tax planning and compliance. This may include advising on income tax, investments, retirement planning, and tax strategies to minimise tax obligations.
Executive compensation and benefits lawyers specialise in areas such as ERISA pension funding and administration, stock options, and employee benefits. They ensure that compensation packages comply with tax laws and regulations and advise on the tax implications for both employers and employees.
Other specialisations within tax law include estate planning, tax-exempt organisations, tax controversy and dispute resolution, and tax policy and legislation. Tax lawyers working in these areas may advise clients on wealth transfer strategies, represent them in court during tax disputes, or monitor and interpret new tax laws and their impact on individuals and businesses.
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Salary and quality of life
The salary of a tax attorney varies depending on several factors, including location, industry, and type of employer. In the United States, the median annual salary for tax attorneys is $85,681, with the top 10% earning more than $146,000 per year. However, salaries can range from $93,297 to $250,000 or more, with some tax attorneys reporting salaries of $750,000 at certain firms. The highest-paying states for tax attorneys are the District of Columbia, California, and New York.
While tax law can be challenging and demanding, with frequent legislative changes and technological advancements contributing to a steep learning curve, it offers a stable and secure career path. Tax attorneys are always in demand as everyone needs to pay their taxes, and they play a crucial role in ensuring compliance and resolving discrepancies.
In terms of work-life balance, experiences vary. Some tax attorneys report working remotely with no set office hours and a typical 40-hour workweek, while others describe unpredictable work hours and high stress levels. The workload intensity and continuous professional development required in tax law can be demanding, so aspiring tax attorneys should carefully consider their educational pathways to build a strong foundation for this complex field.
To maximize career opportunities and salary potential, tax attorneys can pursue additional certifications, such as an LLM in Tax Law, or a master's or doctorate degree. Building a strong professional network and securing mentorship are also important for career advancement, as they provide insights into niche specializations, industry trends, and strategic opportunities. Additionally, mentorship can help clarify the nuances of different accounting jobs and their respective salaries, ensuring that tax attorneys make informed career choices that align with market demands.
Overall, tax attorneys enjoy competitive salaries and a secure career path. However, the nature of the work and the demands of continuous learning may impact the quality of life for some individuals. A careful consideration of educational pathways, networking, and mentorship can help tax attorneys navigate these challenges and achieve a desirable work-life balance.
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Frequently asked questions
It is not necessary to have a CPA or LLM to switch to tax law. However, some sources suggest that getting a tax LLM can open up more opportunities.
One way to switch to tax law is to start applying for entry-level positions at small tax firms. You could also consider getting a tax LLM or CPA to open up more opportunities.
Tax law is a massive field, so it's important to be specific about what type of tax law you're interested in (e.g. tax controversy, transactional, state and local, international). This will help dictate the steps you need to take to make the switch.
