For people and corporations alike, tax debt may be a significant burden. That can lead to a lot of worry and anxiety, and it’s simple to feel helpless and overwhelmed. Lothamer Tax Resolution will help with that. A tax relief company called Lothamer Tax Resolution provides a variety of services to assist clients in managing their tax obligation.
In this article, we’ll give a thorough analysis of Lothamer Tax Resolution, including a summary of the firm’s offerings, a discussion of tax problem resolution, of the benefits and drawbacks of working with them, a look at their services, answers to commonly asked questions, and a conclusion.
Services Provided By Lothamer Tax Resolution
Several tax debt reduction services are provided by Lothamer Tax Resolution, including:
- By negotiating a settlement with the IRS, this service, known as a “offer in compromise,” assists customers in lowering their tax liability.
- Installment Agreement: With this service, customers can pay down their tax bill in convenient monthly installments.
- Penalty Abatement: This service aids customers in lowering or eliminating penalties that have been tacked on to their tax burden.
- Currently Not Collectible: This service is available to clients who are struggling financially and are unable to pay their tax bill. That enables them to delay IRS collection attempts momentarily.
Benefits & Drawbacks
- Staff with experience and expertise: Lothamer has a group of seasoned tax specialists that are educated about tax law and the IRS collection procedure.
- Tailored solutions: To address the particular demands of each customer, Lothamer offers tailored tax debt reduction options.
- First consultations are offered without charge to clients who want to discuss their alternatives and learn more about their tax debt problems.
- Money-back guarantee: Lothamer offers customers peace of mind by offering a money-back guarantee on their services.
- Only operating in a few states, Lothamer may not be readily available to all potential customers.
- Increased prices: Lothamer fees could be more expensive than those of some of their rivals, which might put off certain customers.
How can Lothamer Tax Resolution aid in the reduction of tax debt?
A tax relief company called Lothamer assists both people and companies in managing their tax obligation. They provide a variety of services, including as working with the IRS to decrease or eliminate tax debt, creating payment plans, and offering guidance on how to prevent future tax problems.
Customers who engage with Lothamer may anticipate individualized service from seasoned tax experts who are familiar with the nuances of tax law and the IRS collection procedure. They will collaborate closely with customers to comprehend their particular tax position and provide a tailored strategy to assist them in getting their finances back on track. The company’s staff of tax lawyers, CPAs, and enrolled agents has expertise resolving a variety of tax problems, including IRS audit, tax representation call, bank levy release, wage garnishment release, bankruptcy, and unfiled returns.
The services offered by Lothamer Tax might be very beneficial to customers who are battling with significant tax debt, penalties, or interest costs. Lothamer can assist clients in obtaining a more manageable payment schedule or possibly a reduction in the overall amount of tax obligation owing by negotiating with the IRS on their behalf.
Which solutions does Lothamer Tax Resolution provide for tax debt relief?
To help people and businesses with their tax problems, Lothamer offers a variety of tax debt relief options. The following are some of the primary services they provide:
- Lothamer can assist clients in submitting an offer in compromise (OIC), which is a deal between the taxpayer and the IRS to settle tax liability for less than the entire amount owing. For customers who are unable to pay their whole tax bill, this may be a useful choice.
- Installment Agreements: Lothamer Tax Resolution can assist customers in negotiating an installment agreement with the IRS that enables them to pay down their tax burden in monthly installments over time.
- Penalty Abatement: Lothamer may help customers submit requests to the IRS for penalty abatement, which can lessen or completely remove penalties for late payments or failure to file.
- For now, Lothamer Tax Resolution can assist customers in obtaining CNC status, which signifies that the IRS temporarily halts collection efforts since the taxpayer is unable to pay.
- Lothamer Tax Resolution may assist customers during IRS audits, guiding them through the procedure and ensuring they are treated fairly.
- Lothamer may help clients petition for innocent spouse relief, which exempts them from joint tax liabilities resulting from an ex-or spouse’s spouse’s activities.
All things considered, Lothamer Tax Resolution provides a range of tax debt relief services aimed at assisting customers in resolving their tax problems and achieving financial stability.
What is the procedure for resolving tax debt by working with Lothamer Tax Resolution?
These are generally the processes involved in dealing with Lothamer Tax Resolution to address tax debt:
- Free consultation: To explore their tax debt difficulties and see whether they are a suitable fit for its services, it gives interested customers a free consultation with a tax specialist.
- Obtaining information: If a customer agrees to engage with Lothamer Tax Resolution, their staff will compile data regarding the client’s tax debt position, including tax returns, letters from taxing authorities, and other pertinent financial data.
- Analysis and formulation of a plan of action: Using the data acquired, Lothamer Tax Resolution will examine the client’s tax debt status and formulate a plan of action for dealing with the problem. This might entail haggling with the IRS or state tax authorities, submitting petitions or appeals, or creating a payment plan or settlement offer.
- Strategy implementation: After that, Lothamer Tax Resolution will start carrying out the plan created to address the client’s tax debt issue. This may entail contacting the IRS or state tax authorities on the client’s behalf, delivering the required documents or forms, and making payments in accordance with the predetermined schedule.
- Support on-going: Throughout the tax debt resolution process, Lothamer Tax Resolution offers customers assistance on-going by responding to inquiries and keeping them informed of the status of their cases.
Working with Lothamer Tax Resolution to address tax debt often involves a lengthy procedure that is tailored to the particular circumstances of each customer. Their team of skilled tax specialists strives to provide practical solutions that satisfy the demands of each customer and aid in their financial security.
What are the costs associated with resolving tax debt through Lothamer Tax Resolution?
Depending on the complexity of tax issues in the case and the particular services required, there may be a range of prices for working with Lothamer Tax Resolution to resolve tax debt. Lothamer Tax Resolution, on the other hand, is up forward and honest about their rates, and they provide clients a clear idea of the charges involved before any work is done.
For the consultation and review of their tax debt position, clients may anticipate paying an upfront cost. This non-refundable charge often costs several hundred dollars.
Following the initial meeting, Lothamer Tax Resolution gives customers a thorough overview of tax attorneys and the costs associated with their services. Depending on the complexity of the case and the amount of labor necessary to settle the tax debt issue, the costs are often calculated on an hourly basis.
It’s important to note that Lothamer Tax Resolution’ website does not provide “one-size-fits-all” tax debt relief, and the costs will be tailored to meet the needs of each specific customer. Nonetheless, consumers may be confident that they will get individualized care and a solution that is specific to their tax debt problems. In order to help clients access and afford their services, Lothamer Tax Resolution now provides payment plans.
Are there any professional Organizations that license and accredit Lothamer Tax Resolution?
Indeed, Lothamer Tax Resolution has received accreditation and licensing from a number of professional tax resolution organizations. These are some of the important certifications and licenses that Lothamer Tax Resolution holds:
- A+ rating from the Better Business Bureau (BBB) demonstrates Lothamer Tax Resolution dedication to moral business conduct and client satisfaction. This company is accredited by the BBB.
- Accredited by the National Association of Enrolled Agents (NAEA): The NAEA is a professional association for tax professionals who focus on tax law and representation. Lothamer Tax Resolution employs enrolled agents who are members of the NAEA.
- The National Association of Tax Professionals (NATP), a professional association for tax professionals who work with people and businesses on tax concerns, has accredited Lothamer Tax Resolution.
- Licensed by the State of Michigan: Since Lothamer Tax Resolution has a debt management firm license from the state of Michigan, they are permitted to help Michigan residents with their tax burden.
Are both state and federal tax debts helped by Lothamer Tax Resolution, or simply one or the other?
With regard to outstanding federal taxes and state tax obligation, Lothamer Tax Resolution offers aid. The Federal Revenue Service (IRS) and state tax authorities like the Michigan Department of Treasury are familiar with working with customers that owe past taxes.
Enrolled agents and lawyers who are educated about both state and federal tax rules and regulations are part of their team of tax experts. They may assist customers in navigating the difficulties of addressing tax debt concerns at both levels and developing plans that are customized to each person’s particular situation.
Generally, customers that have tax debt concerns with numerous taxing authorities benefit from Lothamer Tax Resolution’s capacity to review and help with both state and federal tax debt. They can offer a complete solution to assist people and organizations in resolving their tax debt issues and achieving financial security.
Can Lothamer Tax Resolution assist both individuals and corporations in reducing their tax debt?
Indeed, Lothamer Tax Settlement may provide tax debt relief for both individuals and corporations. They are conversant with the tax laws and rules that are relevant to each type of taxpayer and their team have expertise dealing with clients of all sizes, from small enterprises to major multinationals.
Lothamer Tax Resolution may assist individuals with problems including unpaid taxes, tax liens, wage garnishments, and bank levies. In order to discover a solution that satisfies the person’s objectives and aspirations, they might devise a plan to bargain a compromise with the IRS or state tax authorities.
Businesses may get help from Lothamer Tax Resolution with concerns including payroll tax issues, tax audits, and tax debt settlement. They can collaborate with the business owner or their representatives to create a strategy to deal with tax debt concerns, safeguard the owner and business assets, and guarantee tax law compliance.
In general, clients who require assistance in resolving tax debt concerns benefit from Lothamer Tax Resolution’s capacity to assist both individuals and corporations with tax debt relief. They may offer a thorough solution to assist individuals in resolving their tax debt issues, saving themselves and achieving financial security.
In conclusion, Lothamer Tax Resolution, a reputable tax relief company with registered trademarks, offers clients personalized solutions to assist them cope with their tax problem. Clients may feel confidence in their capacity to bargain with the IRS and lower their tax obligation because to their expert team, free first consultation, and money-back guarantee. There are significant restrictions, too, like a small service region and locations, greater costs, and a BBB rating of just one star.