Tax Resolution Services
Steiger Tax Law is committed to reducing or eliminating your tax liabilities, whether through a negotiated settlement with the IRS, penalty relief, successful audit representation or strategic tax planning. Michigan Tax Attorney Andrew Steiger will counsel you to achieve your tax goals and give you peace of mind. Take action today and contact Steiger Tax Law. Below is a list of tax relief services currently offered by Steiger Tax Law:
Offer in compromise
An Offer in Compromise provides taxpayers with the ability eliminate part or all of their tax debt if certain conditions are satisfied. The IRS uses a formula as a starting point when considering offers that takes your sources of income and expenses into account, as well as your assets and related liabilities. Taxpayers benefit from a tax advisor's ability to craft the information in a way that maximizes the chances of an offer being accepted by the IRS that also meets the taxpayer's needs for preserving assets and income to pay necessary expenses.
For taxpayers not meeting the criteria for an offer in compromise, an entering into an installment agreement allows taxpayers to stop bank levies and wage garnishment, while reducing penalties and controlling the amount paid to the IRS. Taxpayers using this method must file financial reports with the IRS and typically pay the debt back over time. Taxpayers will benefit from a tax attorney reviewing their tax history to determine if this course of action is best and if so, to structure the installment agreement in a way that meets the taxpayer's objectives.
Currently Not Collectible Status
For taxpayers who cannot pay any amount of their tax debts without sacrificing payments for basic living expenses, the IRS can place the taxpayer in currently not collectible status. Applying for currently not collectible (CNC) status will temporarily stop collection activities, but not the accumulation of interest and penalties. CNC status may also be used as part of an overall plan to reduce existing tax debts over a period of time when other options are currently unavailable but may become available in the future.
For some taxpayers, who are struggling to pay other creditors in addition to the IRS, filing for bankruptcy may be necessary. Tax liabilities receive special treatment under the U.S. bankruptcy laws and may not be eliminated as part of a bankruptcy filing. If you have thought about bankruptcy and have tax debts, you should consult a tax attorney to determine if the tax debts may be eliminated in a bankruptcy filing. If your primary debts are tax debts, a bankruptcy filing is likely not the best option given the other options available to taxpayers under U.S. tax law.
IRS TAX LIENS
The IRS may file a lien against your real estate, personal property and financial accounts. This may prevent you from purchasing or selling assets, obtaining loans, and could lead to the IRS seizing your assets. Steiger Tax Law can negotiate with the IRS to stop a notice of lien filing and review your rights to release, withdrawal or discharge an IRS tax lien.
IRS TAX LEVIES
The IRS may levy your financial accounts including bank accounts, retirement accounts, social security payments and attempt to take other assets held by third parties. Steiger Tax Law can negotiate with the IRS to stop levies and protect your assets and your ability to pay your bills and other debts.
Applicable IRS and state tax penalties are numerous and can grow quickly. Penalties and interest may be as large as the original unpaid tax. Steiger Tax Law can help you file for penalty relief as part of a comprehensive plan to reduce your total tax debt and help give you a fresh start.
The IRS has the power to garnish your wages to pay off delinquent tax debts. The wage reduction can be substantial and prevent you from paying for necessary living expenses and the notice to your employer may also adversely impact your employment. Steiger Tax Law can negotiate with the IRS to reduce or avoid the impact of wage garnishments.
Estate Planning Services
Successful estate planning can have many different objectives and involve more than a property distribution plan. Some clients focus on protecting wealth. Others may focus on protecting a family business and business succession planning. High net worth clients generally require an estate tax analysis and specific planning methods to avoid the estate tax. Estate planning can be a complicated undertaking and should consider the amount and types property to distribute, family relations, the health of the client, the client's long-term retirement plan, possible charitable giving, privacy concerns, tax implications, specific needs of family members, how heirs may share property, asset protection, and more.
Estate planning is more than executing a simple will off the internet - a living trust, health directive, power of attorney, and other documents may be required to fulfill the goals of the client. Steiger Tax Law will listen to each client and develop a unique estate plan to accomplish the client's goals while also planning for unforeseen events that could cause the estate plan to fail to satisfy the client's objectives. Michigan estate planning attorney Andrew Steiger will work with you to design a plan to ensure you will understand and be able to implement. Mr. Steiger can also review an existing estate plan to suggest changes or confirm the plan continues to satisfy your current and future goals.
If you have estate planning or probate questions, reach out to estate planning attorney Andrew Steiger today at (248) 259-6367 or complete the contact form below. Mr. Steiger will provide you with a free consultation to discuss your legal needs and objectives.
Contact Michigan Tax Attorney Andrew Steiger for free consultation to determine if he can help solve your tax or other legal problem. Free consultation does not establish attorney-client relationship. Information is confidential and protected by attorney-client privilege.
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About Steiger Tax Law
Michigan Tax Attorney Andrew M. Steiger founded Steiger Tax Law in 2018 to provide the highest quality tax resolution, tax planning, estate planning and other legal services to Michigan residents. He is knowledgeable in many areas of tax law and estate planning.