Tax Law and Accounting Only two things in this life are guaranteed, death and taxes. That is the punch line I have heard in many a movie. While there are few more items I would like to add to that list, these are two that 100% of people will agree on. However, if you die before earning any money, can you be taxed? I am sure the governments of the world are constantly on the lookout of how to close this clever loophole. This paper is a basic introduction to tax law and accounting, summarizing the sources and objectives of statutes, while also comparing and contrasting GAAP and tax accounting. People also relate accountants to boring, so I will do my part to avoid that stereotype in the process forthcoming. Sources While death has been around since the dawn of time, taxes have not. It took man to come up with the brilliant idea of taxing everyone for what they produced or earned. Modern tax is fairly new way of making sure that everyone that should pay taxes does and pays the proper amounts. In a unique twist, the civil war was a major reason why taxes came to the United States in ....

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