Tax Law

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Tax law refers to the body of laws and regulations that govern the collection, calculation, and payment of taxes. Tax law covers a wide range of tax-related issues, such as income tax, property tax, sales tax, and corporate tax.

Tax laws are created by legislative bodies such as the U.S. Congress or state legislatures, and are enforced by tax authorities such as the Internal Revenue Service (IRS) in the United States.

Tax law can be complex and often requires the assistance of legal and financial professionals to navigate. Tax law can also be subject to frequent changes and updates, as tax authorities seek to adapt to changes in the economy and tax policy.

Tax law plays an important role in government revenue generation and can have significant impacts on individual and business finances.

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