Individuals and businesses alike can be burdened by tax debt. It can be stressful and anxiety-inducing, and it’s easy to feel overwhelmed and unsure where to turn for help. This is where Lothamer Tax Resolution can help. Lothamer Tax Resolution is a tax resolution firm that provides a variety of services to assist clients in dealing with their tax debt.
We’ll provide a comprehensive Lothamer Tax Resolution review in this article, including an overview of the firm’s services, the benefits and drawbacks of working with them, their services, frequently asked questions, and our final conclusion.
Lothamer Tax Resolution provides numerous tax debt relief services, including:
- Offer In Compromise: This service assists clients in reducing their tax debt by negotiating a settlement with the IRS.
- Installment Agreement: This service allows clients to pay off their tax debt in monthly installments that are manageable.
- Penalty Abatement: This service assists clients in reducing or eliminating penalties added to their tax debt.
- Currently Uncollectible: This service is available to clients who are unable to pay their tax debt due to financial hardship. It enables them to halt IRS collection efforts for the time being.
Lothamer has an experienced and knowledgeable team of tax professionals who are well-versed in tax law and the IRS collection process.
Lothamer provides personalized tax debt reduction options to match the specific demands of each customer.
Customers can schedule a free first appointment to discuss their tax debt problems and explore their options.
Money-back guarantee: Lothamer gives a money-back guarantee on their services, giving customers piece of mind.
Lothamer only operates in a few states, which may limit their availability to potential customers.
Increased costs: Lothamer fees may be greater than those of their competitors, which may put off certain clients.
What exactly is Lothamer Tax Resolution, and how does it assist with tax debt relief?
Lothamer is a tax relief company that assists people and corporations with their tax liabilities. They provide a variety of services, including as negotiating with the IRS to decrease or eliminate tax debt, arranging payment plans, and advising on how to avoid future tax troubles.
Clients can expect customized attention from seasoned tax experts who understand the complexities of tax law and the IRS collection procedure when they deal with Lothamer. They will collaborate closely with customers to understand their specific tax position and build a tailored strategy to assist them in getting back on track financially. Our staff of tax attorneys, CPAs, and registered agents has extensive expertise resolving tax difficulties such as IRS audit representation, bank levy release, wage garnishment release, bankruptcy, and unfiled returns.
Lothamer Tax’s services can be very beneficial for customers who are dealing with large amounts of tax debt, fines, or interest costs. Lothamer can assist customers reach a more manageable payment plan or possibly lower the overall amount of tax obligation owing by negotiating with the IRS on their behalf.
Lothamer Tax Resolution provides what sorts of tax debt reduction services?
Lothamer provides a variety of tax debt relief services to people and organizations who are dealing with tax troubles. Below are some of the primary services they provide:
- Lothamer can assist clients in applying for an Offer in Compromise (OIC), which is an agreement between the taxpayer and the IRS to settle tax debt for less than the entire amount owing. This may be a viable alternative for customers who are unable to pay their whole tax bill.
- Lothamer Tax Resolution can assist customers in negotiating an installment arrangement with the IRS, which allows clients to make monthly payments towards their tax burden over time.
- Lothamer may assist customers in obtaining IRS penalty abatement, which can decrease or eliminate penalties for late payment or failure to submit.
- Presently, Lothamer Tax Resolution can assist customers in obtaining CNC status, which means the IRS temporarily suspends collection operations because to the taxpayer’s inability to pay.
- Audit Representation: Lothamer Tax Resolution may represent customers during IRS audits, guiding them through the process and ensuring they are treated fairly.
- Lothamer may help clients petition for Innocent Spouse Relief, which absolves them of joint tax obligation for the activities of a spouse or former spouse.
Overall, Lothamer Tax Resolution provides a wide range of tax debt relief services to assist clients in resolving tax concerns and achieving financial stability.
What is the procedure for resolving tax debt with Lothamer Tax Resolution?
Working with Lothamer Tax Resolution to address tax liability usually entails the following steps:
- Free consultation: It provides potential customers with a free consultation with a tax adviser to review their tax debt difficulties and assess whether they are a good fit for their services.
- When a customer agrees to engage with Lothamer Tax Resolution, their staff will collect information regarding the client’s tax debt position, such as tax returns, notices from taxing authorities, and other pertinent financial information.
- Lothamer Tax Resolution will examine the client’s tax debt status and prepare a strategy for resolving the issue based on the facts acquired. Negotiating with the IRS or state tax agencies, filing appeals or petitions, or developing a payment plan or settlement offer are all possibilities.
- Strategy implementation: Lothamer Tax Resolution will next begin putting the plan created for the client’s tax debt situation into action. This may include talking with the IRS or state tax agency on behalf of the customer, submitting relevant documentation or forms, and making payments in accordance with the agreed-upon plan.
Overall, the process of working with Lothamer Tax Settlement to address tax debt is rigorous and tailored to each client’s specific circumstances. Their skilled tax specialists collaborate to create efficient solutions that match each client’s needs and assist them in achieving financial security.
How much does it cost to deal with Lothamer Tax Resolution to resolve tax debt?
The cost of working with Lothamer Tax Resolution to resolve tax debt varies based on the complexity of the case and the services required. Lothamer Tax Resolution, on the other hand, is upfront and straightforward about their rates, and they provide clients a comprehensive idea of the charges involved before any work is done.
Customers may anticipate to pay a consultation and evaluation charge for their tax debt status. This cost, which is usually several hundred dollars, is non-refundable.
Lothamer Tax Resolution will offer customers with a thorough breakdown of their service fees following the initial meeting. Fees are normally calculated on an hourly basis and vary depending on the intricacy of the case and the amount of work necessary to remedy the tax debt issue.
Lothamer Tax Resolution does not provide a “one-size-fits-all” approach to tax debt relief, and the costs will be tailored to each particular client’s circumstances. Clients, on the other hand, may be confident that they will receive customized attention and a specific solution to their tax debt problems. Lothamer Tax Resolution also provides payment plans to make their services more cheap and accessible to consumers.
Is Lothamer Tax Resolution certified and licensed by any professional organizations?
Indeed, Lothamer Tax Resolution is licensed and accredited by various professional tax resolution organizations. Lothamer Tax Resolution holds the following licenses and accreditations:
Lothamer Tax Resolution has an A+ rating from the Better Business Bureau (BBB), indicating their dedication to ethical business operations and client satisfaction.
Lothamer Tax Resolution has enrolled agents on staff that are members of the National Association of Enrolled Agents (NAEA), which is a professional association for tax professionals who specialize in tax law and representation.
Lothamer Tax Resolution is a member of the National Association of Tax Professionals (NATP), which is a professional association for tax professionals that assist with people and companies on tax difficulties.
Lothamer Tax Resolution is licensed as a debt management organization in the state of Michigan, which means they are permitted to provide tax debt reduction services to Michigan consumers.
Overall, Lothamer Tax Resolution’s licenses and accreditations indicate its dedication to professionalism, integrity, and knowledge in the tax resolution field.
Is Lothamer Tax Resolution able to help with both state and federal tax debt, or just one?
Lothamer Tax Resolution may help with both state and federal tax debt. They have prior expertise working with clients who owe back taxes to the IRS and state tax agencies such as the Michigan Department of Treasury.
Its tax team comprises enrolled agents and attorneys who are well-versed in federal and state tax rules and regulations. They may assist clients in navigating the complexity of addressing tax debt concerns at both the state and federal levels, as well as developing plans that are suited to each individual’s specific circumstances.
Overall, the capacity of Lothamer Tax Resolution to assist with both state and federal tax debt is advantageous for customers who have tax debt difficulties with numerous taxing authorities. They can offer a comprehensive solution to assist people and businesses in resolving their tax debt issues and achieving financial security.
Can Lothamer Tax Resolution assist individuals and corporations with tax debt relief?
Yes, Lothamer Tax Resolution may assist with tax debt reduction for both individuals and corporations. They have worked with a wide range of customers, from small enterprises to huge organizations, and are well-versed in the tax rules and regulations that relate to each kind of taxpayer.
Lothamer Tax Resolution may assist individuals with difficulties such as unpaid taxes, tax liens, wage garnishments, and bank levies. They can devise a plan to negotiate with the IRS or state tax agency in order to reach an agreement that suits the individual’s requirements and aspirations.
Lothamer Tax Resolution may help firms with payroll tax concerns, tax audits, and tax debt settlement. They can collaborate with the business owner or their agents to design a strategy for dealing with tax debt, protecting business assets, and ensuring compliance with tax regulations.
Overall, Lothamer Tax Resolution’s capacity to assist both people and corporations with tax debt relief is beneficial to clients in need of aid in addressing tax debt concerns. They can offer a comprehensive solution to assist people in resolving their tax debt issues and achieving financial security.
Finally, Lothamer Tax Resolution, which has registered trademarks, is a trustworthy tax relief agency that offers personalized solutions to help clients cope with their tax problem. Clients may be confidence in their capacity to bargain with the IRS and minimize their tax obligation because of their professional team, free first consultation, and money-back guarantee. Nevertheless, there are several limits, such as their limited service region and higher rates, as well as their BBB rating of only one star.
Tax Problem Resolution: Tax Problem Resolution refers to the process of addressing and resolving issues related to taxes, such as tax debts, audits, disputes with tax authorities, and non-compliance with tax laws. This term often involves services provided by tax professionals or firms to assist individuals or businesses in settling their tax problems.
Tax Representation: Tax Representation refers to the act of acting on behalf of an individual or business in matters related to tax, such as during an audit, tax dispute, or negotiation with tax authorities. This service is typically provided by tax attorneys, accountants, or professionals specializing in tax law.
Certified Public Accountants: Certified Public Accountants (CPAs) are financial professionals who have passed the rigorous CPA exam and met specific state licensing requirements. They offer various financial services, including auditing financial statements, tax preparation and planning, financial planning and consulting, and forensic accounting.