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Getting into Tax Law
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Hi all,
I’m currently a 1L at a T14 looking to get into tax law after I graduate. How can I poise myself to join a tax group? Are there specific courses I should take? Networking strategies I should use? I know tax is more niche so I’m curious if recruitment into tax is different than other practice groups. All insights are appreciated!
Top Comment: Just out of curiosity — why are you looking to get into tax if you haven’t taken a tax law class yet? But my advice is to take every tax class you can (basic income tax and corporate / partnership tax and any practice-oriented classes or clinics that have a tax component), try to do something tax-related during your 1L summer (perhaps a research assistant position for a tax law professor or an internship that relates to tax law), although that’s not necessary, and then after 2L apply for a summer associate position with a firm that has a tax practice and ask for tax projects. For hiring there are some firms that require a tax LLM for their full time hires but I don’t think that’s standard. So really just get the best grades you can in law school and possess a genuine interest in tax law and convey that to the firms you apply to, and do a good job on tax projects you handle during your summers. I don’t get the sense that tax departments always have qualified people beating down the door to work there.
Do you like working in Tax Law?
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How long have you worked in Tax and what do you like or dislike about it? Is an LLM in Tax helpful to break in?
Top Comment: 3.5 years. Yes - you are always learning. You can have transactional input and align closely with your firm’s corporate team, structure deals and funds, focus on real estate or finance or disputes, or do solely advisory work. Outside of the transactional work, the hours can be comparatively good and there’s always a great demand for tax lawyers. The various teams I have experienced have a great mix of individuals and it lends itself well to collaboration given the vast amount out there - no one can know it all. The best teams have the more corporate style, commercial approach (underpinned by knowledge) combined with the more academic, studious type who love to throw themselves into problems. LLM wise - not needed, but might help you have a good base of understanding. Some firms want their associates to do the CTA, so if you wish to develop your academic understanding there’s ample opportunity later.
How is the work life balance of tax attorneys? Any regrets in becoming one?
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Tax attorney wlb?
Can any tax attorneys share how the work life balance is? Is it more stressful than other areas of law? Do you regret becoming one? Is being a tax attorney like a 40 hr workweek with a salary of 200k? In the U.S. do you have time for family?
Top Comment: I work in-house and earn around 250k TC, so I can’t really complain. It’s 40 hours a week with three in-person days. Back when I was working at a small tax law firm, I was working more hours and was more stressed.
How to become a Tax Attorney?
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Honestly please advise and or your own personal experience as a tax attorney. Thank you!
Top Comment: If your school offers a tax certificate/concentration try to get it. Also, if there are any tax clinics at your school take one of those or volunteer for a clinic. Additionally, apply for law clerk jobs with the IRS and state/local tax agencies (and attorney/post bar jobs once you’re at that stage) If all of this does not amount to work in the tax field you could consider getting an LLM in tax and then apply to private sector and public sector positions during your LLM program. You should also network with tax attorneys (such as with your local or state bar’s tax section) as that may generate job leads. If you’ve shown a legitimate interest in tax you very well may be able to get an IRS attorney or honors program job right out of law school, they’ve been hiring a lot over the recent years. Also, if you did not apply to the Big 4 Accounting firms during OCI you might want to look into that as well in their tax departments. Best of luck!
Tax attorney salary
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Can anyone comment their salary as a tax attorney? If it’s worth being one. Does having a accounting undergrad and cpa before law school make one an ideal candidate?
Top Comment: I make regular Biglaw scale. Tax pay is a bit better than many corporate colleagues going in house. Roles are more restricted though. You don’t need a tax LLM. You also don’t need a CPA/Accounting background. Both are nice but not must have.
Tax Attorneys
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(Also posted on r/law firm)
Hey everyone,
Any tax attorneys here? How is the field? Would you recommend a new attorney coming out of law school to go into it? On that note, what is your experience with the value of an LLM degree in taxation?
Non tax-lawyers feel free to comment your knowledge as well! Thank you!
Top Comment: I've been in biglaw tax almost 6 years. Tax is lit. You get paid the same as everyone else, but the hours are way better. If you like tax at all, you'd be a fool to do anything else. Most people go right into out of law school into tax. The LLM is for three types of people 1) practicing tax lawyers whose firm pays for it while they're working, 2) people who struck out in law school and want another shot at interviews, 3) practicing lawyers who want to switch practices. The goal should be to just get a job in tax right out of law school though.
How do the day-to-day duties of a transactional tax attorney differ from that of a tax accountant?
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If a tax attorney does not do dispute resolution, then how are there daily activities different than a tax accountant or other tax professional (e.g. enrolled agent)? Like many in law, I have extremely little exposure to tax, which is usually avoided unless that's your specialty.
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How is a tax lawyer different from a CPA?
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What do they do that a CPA does not do, or vice versa?
Top Comment: We get paid more for doing the same work
Is tax law really fun?
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I am a 2L that is currently taking Fed income tax and I really enjoy it. I’ve always loved numbers and puzzles. I came into law school wanting to do transactional work, but I really like tax right now. I guess I was wondering if doing tax law in BL is fun or just a massive slog (I know it depends on a variety of factors, but any insight is appreciated)
Top Comment: Tax - and more specifically US international tax - is one of the best practice areas. Interesting area, very high hourly rates (amongst the highest at most firms) and generally low stress and less billable hours (unless you’re doing like purely corporate M&A-type tax work that is driven by deal flow). I’m an international tax and international trusts and estates lawyer for high net worth private clients. My job and career are great. I’m 10 years out of school and my entire book of business is my own. If you’re good at the work, it’s very easy to get business in this practice area because there’s about 40 lawyers in the US who specialize in it and have a reputation for being truly qualified to handle the work. Although my practice encompasses a lot, first and foremost I’m an international tax lawyer before anything else. Many lawyers are miserable in their careers. I’m certainly not and neither are my tax law peers. It’s a great practice area.