Best Accountants in Troy, MI

A tax attorney has received a Juris Doctorate, a doctoral degree in law, and has passed the bar examination. Attorneys gain specialization through years of experience. Over time, they practice their skills in a specific field of law. Tax attorneys can help you understand legal statutes and resolve tax dilemmas. Some common concerns are simple, such as tax return preparation, to more complex areas such as gifts, property, sales, estate and federal income tax.

Inheritances are generally not subject to federal or state income tax. However, if you are inheriting an Individual Retirement Account ("IRA"), there most likely will be an income tax due on the proceeds. If you have any questions about an inheritance, please contact us.

Revenue agents are in charge of determining how much you owe. Revenue officers are in charge of collecting the determined amount. A revenue agent's job is to conduct tax audits of individuals and businesses, in addition to trusts and non-profit organizations, to figure out their tax liability. Revenue agents generally conduct tax audits of the most complicated tax returns, ranging from small "Schedule C" businesses to the largest multi-national corporations. Revenue Officers are assigned to the most difficult IRS tax debt cases. Those individuals or businesses that the IRS has been unable to collect from through letters, phone calls, and tax levies and garnishments generated by IRS computers.

A Certified Public Accountant, or CPA, completed a five-year business degree and all necessary exams. CPAs are generally utilized in complicated tax situations. CPAs abide by federal laws while minimizing your tax liability and maximizing benefits. While they can complete work similar to what a tax attorney can do, they cannot legally represent you if you have IRS issues. We work very closely with CPA's to make sure you are getting the best representation possible.

While the answer is yes, you have to remember that it is their job to collect your taxes. They are not trying to be your friend; they are just trying to carry out their job in a polite and professional manner. They are not looking to save you money; they are trying to collect taxes from you along with penalties and fines. That is why you would want a trained tax attorney to help protect your best interests.