Tax law helps to reduce errors when filing taxes. This is because they are deterring what is taxed, how it's taxed, and to what extent it is taxed. Security. One of the most important parts of tax laws are that they provide businesses and individuals with a sense of security, especially when planning an annual budget.

Taxation refers to the practice of a government collecting money from its citizens to pay for public services. Taxation is the practice of collecting taxes (money) from citizens based on their earnings and property.