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Feature Spotlight: Practical Guidance® Tax

April 13, 2023 (3 min read)

This post was originally published in June 2020 and updated in April 2023. 

It’s no secret that tax law is constantly in flux. And every election cycle brings potential changes to federal, state, and local tax codes. To further complicate things, external pressures (like recessions and pandemics) tend to amplify calls for tax reform.

So, how does a hard-working tax law attorney stay on top of it all?

To help make your job easier, LexisNexis® devotes an entire practice area within Practical Guidance solely to tax matters. It’s packed with practice notes, annotated templates, checklists, articles on current tax issues, international tax Q&As, 50-state tax surveys, and more, covering a broad spectrum of taxation topics.

Note: Practical Guidance Tax is a different resource than the Lexis® Tax service. Specifically, Practical Guidance Tax is designed to complement the comprehensive primary and secondary tax research that you can perform with Lexis or Lexis Tax. You can find more information on Lexis Tax here.

If you’re not familiar with Practical Guidance in general, click here for the Practical Guidance Product Spotlight.

Not only does the content within Practical Guidance Tax help you stay current and understand highly technical tax concepts, it also allows you to build knowledge quickly on new or unfamiliar topics. That means you’ll be able to cover more ground and potentially avoid turning prospective clients away.

With Practical Guidance integration on Lexis+, you won't waste time jumping around to other sources to pull together the content you need to complete tax-related legal tasks. 

Extensive Coverage Across a Range of Tax Topics

Practical Guidance Tax provides guidance on tax matters at the federal, international, state, and local levels. That includes detailed guidance on recent tax legislation, IRS/Treasury regulations, and guidance on tax controversies. Included with Practical Guidance Tax are multistate surveys that can provide references to laws in all 50 states and country-specific Q&A documents analyzing foreign tax law systems. 

The exclusive materials in Practical Guidance Tax come from a team of top tax lawyers. Learn from their experience on matters like tax compliance, audits, and litigation. From business entity and employment tax concerns to real estate, securities, and individual tax matters, Practical Guidance Tax equips you with the know-how to tackle whatever tax issues your clients bring through your firm’s door.

Explore Valuable Tax-Specific Resources

The phrase “practice guidance” is a bit nebulous, right? To help you understand what we’re talking about, here are a few examples of the resources you’ll find inside Practical Guidance Tax:

  • Practice Notes: Get valuable insight on specific tax issues and jurisdictions written by experienced attorney authors. Practice notes include links to primary and other secondary sources for when you need a deep dive into a specific issue. 
  • Annotated Forms: Obtain valuable template tax forms with drafting notes and alternate & optional clauses. Templates are updated regularly, so you know your documents are always signature-ready. 
  • Checklists: Receive key information practitioners need to know to complete a tax-related legal task or to apply a complex tax law or regulation.
  • Resource Kits: Access dedicated kits that pack in vital practical guidance on key tax topics, such as the Tax Cuts and Jobs Act (TCJA), Foreign Account Tax Compliance Act (FATCA), and Tax Controversies—all in one handy place.

Work Faster with Seamless Integration

If you’re already a Lexis or Lexis Tax user, you’ll like this next part: Practical Guidance Tax works hand-in-hand with Lexis Tax. In fact, many of the documents and resources found within Practical Guidance Tax contain links to content inside Lexis and Lexis Tax. That means you’ll get access to over 1,400 Lexis tax primary and secondary sources too—often with a single click.

Get a Closer Look

Does all this tax content sound interesting? Are you finding it tough to understand complex tax concepts, laws and regulations, or to stay up to date with key tax legal developments?

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