Tax Attorney Salary
Tax Attorneys in the United States can expect to earn a very generous salary, with average salaries (in the ballpark of $99K) surpassing six figures annually. Career duration and the particular city each impact pay for this group, with the former having the largest influence. Most workers in this position report high levels of job satisfaction. Medical benefits are awarded to a large number, and a majority earn dental coverage. Male Tax Attorneys are far more common among survey respondents than their female counterparts, who typically comprise less than one-third of the field. Participants in PayScale's salary questionnaire provided the particulars of this report.
Job Description for Tax Attorney
A tax attorney is a lawyer whose specializes in guiding clients through the intricacies of tax law to help them to make the best possible financial and legal decisions. Corporations may have a tax attorney as part of their legal team to advise them and prevent them from making any expensive revenue-reporting mistakes. Many larger law firms also keep general tax attorneys on staff to assist individual clients either with proactive advice on financial matters or with revenue service inquiries or hearings. Tax attorneys also provide counsel and legal representation for clients who are undergoing an audit or face penalties or legal proceedings (such as those regarding past tax payments). In these cases, the tax attorney must provide the best possible advice for the client and help negotiate the most favorable settlement possible.Read More...
Tax attorneys must have an up-to-date knowledge with current tax laws and codes to provide sound legal counsel. Tax attorneys often review various business or investment strategies, and they may be called upon to present a forecast of tax burdens or taxable income. In this circumstance, the attorney must not only have an in-depth knowledge of current tax laws, but they also must have knowledge of developments on a federal and local level.
Tax attorneys are lawyers, and they must possess a degree in law from an accredited university. Additionally, they typically must have a strong educational background in tax law. Tax attorneys must pass state bar exam certification, and they also may be required to obtain additional certification to work in this specialization.
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Popular Skills for Tax Attorney
Tax Attorneys report a narrow range of specific skills. Those who have experience with Tax Consulting, Legal Research, and Tax Compliance can expect to be compensated well for these skills. Skills that seem to negatively impact pay include Tax Compliance and Legal Research. Most people who know Tax Compliance also know Legal Research.
Pay by Experience Level for Tax Attorney
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Tax Attorneys who reported more years of relevant experience also reported higher earnings. The relatively untested earn a median of $80K per year, but survey respondents who have racked up five to 10 years of experience report a six-figure median of $136K. The average pay reported by folks with 10 to 20 years of experience is around $188K. Tax Attorneys with more than 20 years of experience report incomes that are only modestly higher; the median for these old hands hovers around $225K.
Pay Difference by Location
For Tax Attorneys, working in the bustling city of Washington has its advantages, including an above-average pay rate. Tax Attorneys will also find cushy salaries in Atlanta (+28 percent), Los Angeles (+25 percent), New York (+21 percent), and Chicago (+11 percent). Tax Attorneys in Detroit earn salaries far below the national average by 39 percent, proving that geography overwhelmingly affects the pay scale for those in this field. Two other places where employers offer below-median salaries are Miami (27 percent less) and Denver (21 percent less).