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Tax debt can be a serious burden for individuals and businesses. It can cause a lot of stress and anxiety, and it’s easy to feel overwhelmed and unsure of where to turn for help. That’s where Lothamer Tax Resolution comes in. Lothamer Tax Resolution is a tax relief firm that offers a range of services to help clients deal with their tax debt.
In this article, we’ll provide a comprehensive Lothamer Tax Resolution review, including an overview of the firm’s services, the pros, and cons of working with them, their services, frequently asked questions, and our final conclusion.
Lothamer Tax Resolution offers a variety of tax debt relief services, including:
- Offer in Compromise: This service helps clients reduce their tax debt by negotiating a settlement with the IRS.
- Installment Agreement: This service allows clients to pay off their tax debt in manageable monthly payments.
- Penalty Abatement: This service helps clients reduce or eliminate penalties that have been added to their tax debt.
- Currently Not Collectible: This service is for clients who cannot afford to pay their tax debt due to financial hardship. It allows them to temporarily halt IRS collection efforts.
Pros and Cons:
- Experienced and knowledgeable staff: Lothamer has a team of experienced tax professionals who are well-versed in tax law and the IRS collection process.
- Customized solutions: Lothamer offers customized tax debt relief solutions to meet the unique needs of each client.
- Free initial consultation: Clients can schedule a free initial consultation to discuss their tax debt issues and explore their options.
- Money-back guarantee: Lothamer offers a money-back guarantee on their services, which provides clients with peace of mind.
- Limited service area: Lothamer only operates in certain states, which may limit their availability to potential clients.
- Higher fees: Lothamer’s fees may be higher than some of their competitors, which could be a deterrent for some clients.
What is Lothamer Tax Resolution and how does it help with tax debt relief?
Lothamer is a tax relief firm that helps individuals and businesses deal with their tax debt. They offer a range of services, including negotiating with the IRS to reduce or eliminate tax debt, developing payment plans, and providing advice on how to avoid future tax issues.
When clients work with Lothamer, they can expect to receive personalized attention from experienced tax professionals who understand the intricacies of tax law and the IRS collection process. They will work closely with clients to understand their unique tax situation and develop a customized solution to help them get back on track financially. Its team of tax attorneys, CPAs, and enrolled agents have experience in solving a wide range of tax issues including IRS audit representation, bank levy release, wage garnishment release, bankruptcy, and unfiled returns.
Lothamer Tax’s services can be particularly helpful for clients who are struggling with high tax debt, penalties, or interest charges. By negotiating with the IRS on their behalf, Lothamer can help clients achieve a more manageable payment plan or even reduce the total amount of tax debt owed.
What types of tax debt relief services does Lothamer Tax Resolution offer?
Lothamer offers a range of tax debt relief services to individuals and businesses facing tax issues. Here are some of the main types of services they offer:
- Offer in Compromise (OIC): Lothamer can help clients apply for an OIC, which is an agreement between the taxpayer and the IRS to settle tax debt for less than the full amount owed. This can be a good option for clients who are unable to pay their full tax debt.
- Installment Agreements: Lothamer Tax Resolution can help clients negotiate an installment agreement with the IRS, which allows clients to make monthly payments towards their tax debt over a period of time.
- Penalty Abatement: Lothamer can assist clients in requesting penalty abatement from the IRS, which can reduce or eliminate penalties for late payment or failure to file.
- Currently, Not Collectible (CNC): Lothamer Tax Resolution can help clients qualify for CNC status, which means the IRS temporarily suspends collection activity due to the taxpayer’s inability to pay.
- Audit Representation: Lothamer Tax Resolution can represent clients during IRS audits, helping them navigate the audit process and ensure they receive fair treatment.
- Innocent Spouse Relief: Lothamer can assist clients in applying for Innocent Spouse Relief, which relieves them of joint tax liability for the actions of a spouse or former spouse.
Overall, Lothamer Tax Resolution offers a variety of tax debt relief services designed to help clients resolve their tax issues and achieve financial stability.
What is the process for working with Lothamer Tax Resolution to resolve tax debt?
The process for working with Lothamer Tax Resolution to resolve tax debt typically involves the following steps:
- Free consultation: It offers a free consultation with a tax consultant, to potential clients to discuss their tax debt issues and determine whether they are a good fit for their services.
- Information gathering: Once a client decides to work with Lothamer Tax Resolution, their team will gather information about the client’s tax debt situation, including tax returns, notices from taxing authorities, and other relevant financial information.
- Analysis and strategy development: Based on the information gathered, Lothamer Tax Resolution will analyze the client’s tax debt situation and develop a strategy for resolving the issue. This may involve negotiating with the IRS or state tax agencies, filing appeals or petitions, or developing a payment plan or settlement offer.
- Implementation of strategy: Lothamer Tax Resolution will then begin implementing the strategy developed for the client’s tax debt issue. This may involve communicating with the IRS or state tax agencies on the client’s behalf, submitting necessary paperwork or forms, and making payments according to the agreed-upon plan.
- Ongoing support: Lothamer Tax Resolution provides ongoing support to clients throughout the tax debt resolution process, answering questions and providing updates on the progress of their cases.
Overall, the process for working with Lothamer Tax Resolution to resolve tax debt is designed to be thorough and personalized to each client’s unique situation. Their team of experienced tax professionals works to develop effective solutions that meet each client’s needs and help them achieve financial stability.
What are the fees for working with Lothamer Tax Resolution to resolve tax debt?
The fees for working with Lothamer Tax Resolution to resolve tax debt can vary depending on the complexity of the case and the specific services needed and analyze traffic. However, Lothamer Tax Resolution is upfront and transparent about their fees, and they provide clients with a clear understanding of the costs involved before any work is done.
Clients can expect to pay an initial fee for the consultation and evaluation of their tax debt situation. This fee is typically several hundred dollars and is non-refundable.
After the initial consultation, Lothamer Tax Resolution will provide clients with a detailed breakdown of the fees for their services. The fees are typically based on an hourly rate and will vary depending on the complexity of the case and the amount of work required to resolve the tax debt issue.
It’s worth noting that Lothamer Tax Resolution does not offer a “one-size-fits-all” approach to tax debt relief, and the fees will be customized to each individual client’s needs. However, clients can rest assured that they will receive personalized attention and a tailored solution to their tax debt issues. Additionally, Lothamer Tax Resolution offers payment plans to help make their services more affordable and accessible to clients.
Is Lothamer Tax Resolution licensed and accredited by any professional organizations?
Yes, Lothamer Tax Resolution is licensed and accredited by several professional organizations in the tax resolution industry. Here are some of the main licenses and accreditations held by Lothamer Tax Resolution:
- Accredited by the Better Business Bureau (BBB): Lothamer Tax Resolution has an A+ rating from the BBB, which signifies their commitment to ethical business practices and customer satisfaction.
- Accredited by the National Association of Enrolled Agents (NAEA): Lothamer Tax Resolution has enrolled agents on staff who are members of the NAEA, which is a professional organization for tax professionals who specialize in tax law and representation.
- Accredited by the National Association of Tax Professionals (NATP): Lothamer Tax Resolution is a member of the NATP, which is a professional organization for tax professionals who work with individuals and businesses on tax issues.
- Licensed by the State of Michigan: Lothamer Tax Resolution is licensed as a debt management company in the state of Michigan, which means they are authorized to provide tax debt relief services to clients in Michigan.
Overall, these licenses and accreditations demonstrate Lothamer Tax Resolution’s commitment to professionalism, ethics, and expertise in the tax resolution industry.
Does Lothamer Tax Resolution provide assistance with state and federal tax debt, or just one or the other?
Lothamer Tax Resolution provides assistance with both state and federal tax debt. They have experience working with clients who owe back taxes to the Internal Revenue Service (IRS) and state tax agencies, such as the Michigan Department of Treasury.
Their team of tax professionals includes enrolled agents and attorneys who are knowledgeable about both federal and state tax laws and regulations. They can help clients navigate the complexities of resolving tax debt issues at both levels and develop strategies that are tailored to each individual’s unique circumstances.
Overall, Lothamer Tax Resolution’s ability to assist with both state and federal tax debt is an advantage for clients who have tax debt issues with multiple taxing authorities. They can provide a comprehensive solution to help individuals and businesses overcome their tax debt problems and achieve financial stability.
Can Lothamer Tax Resolution help with tax debt relief for both individuals and businesses?
Yes, Lothamer Tax Resolution can help both individuals and businesses with tax debt relief. They have experience working with clients of all types, from small businesses to large corporations, and they are familiar with the tax laws and regulations that apply to each type of taxpayer.
For individuals, Lothamer Tax Resolution can help with issues such as unpaid taxes, tax liens, wage garnishments, and bank levies. They can develop a strategy to negotiate with the IRS or state tax agencies and work to find a resolution that meets the individual’s needs and goals.
For businesses, Lothamer Tax Resolution can assist with issues such as payroll tax problems, tax audits, and tax debt settlement. They can work with the business owner or their representatives to develop a plan to address tax debt issues, protect business assets, and ensure compliance with tax laws.
Overall, Lothamer Tax Resolution’s ability to help both individuals and businesses with tax debt relief is an advantage for clients who need assistance in resolving tax debt issues. They can provide a comprehensive solution to help taxpayers overcome their tax debt problems and achieve financial stability.
In conclusion, Lothamer Tax Resolution with registered trademarks is a reliable tax relief firm that provides customized solutions to help clients deal with their tax debt. With their experienced staff, free initial consultation, and a money-back guarantee, clients can feel confident in their ability to negotiate with the IRS and reduce their tax debt. However, there are some limitations, such as their limited service area and higher fees, and only having a 1-star rating on the BBB.