Tax Attorney

Tax Attorney explains that a "tax exemption" is an exemption to the tax law of a state or nation in which part of the taxes that would normally be collected from an individual or an organization are instead foregone. A tax attorney may be useful when using tax deductions, changing one's tax status through incorporation or, depending on citizenship, establishing an offshore company, trust or foundation in a tax haven.

The U.S. Supreme Court has stated that, "The legal right of a taxpayer to decrease the amount of what otherwise would be his taxes, or altogether avoid them, by means which the law permits, cannot be doubted."

Normally a tax exemption is provided to an individual or organization which falls within a protected class of some kind. Tax exemptions are usually meant to either reduce the tax burden from a particular segment of society in the interests of fairness or to promote some type of economic activity through reducing the tax burden on those organizations or individuals who are involved in that activity.

Income tax was first introduced into Britain in 1798 to pay for weapons and equipment in preparation for the Napoleonic wars and into Canada in 1917 as a "temporary" tax under the Income War Tax Act to cover government expenses resulting from World War I.

The current income tax in America was set up by Theodore Roosevelt in 1913. It was called The Federal Income Tax and was deducted from incomes at rates varying from 1-7%.

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