No tax problem is unsolvable. Use this guide for an overview of common concerns and when to seek professional help to resolve unfiled tax returns.
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Tax Identity Theft Isn’t Limited to Individual Returns
The Internal Revenue Service issued a bulletin in December 2017 warning small businesses to be vigilant against increasing tax identity thefts against employers. It was noted that the IRS saw a large increase in fraudulent forms 1120, the 1120S, and 1041 and Schedules K-1, partnership, estate, and trust returns. In the past, identity thieves used stolen Employer Identification Numbers (EINs) to create fake W-2 forms that they used when filing false individual returns and using the EINs to open lines of credit or obtain credit cards. Now they are using company names and EINs to file fraudulent business returns. To help combat the thieves, starting in 2018, the IRS is now asking business and tax practitioners to provide additional information such as:
- Name and SSN of the person authorized to sign the corporate return;
- Payment history of estimated tax payments, how they were made, and the amount paid;
- To list if there is a parent company and the name;
- Give additional information based on the deductions claimed; and
- Business filing history — listing any other business-related tax forms filed.
Business Owner Fails to Pay Employment Taxes
Steve Lopez, the owner of two businesses in West Virginia, pled guilty in Federal Court to charges of failing to pay employment taxes. From 2008 to 2012, Lopez owned Ready Transport Services, a taxi service company, and RTS Ice Cream, Coffee, and Candy Shop. Although Lopez withheld social security, Medicare, and income taxes from his employee’s paychecks, he failed to pay approximately $393,851 in taxes owed to the IRS and his employer’s share of those taxes. Lopez is scheduled to be sentenced in March 2018. He faces a maximum sentence of 5 years plus supervised release, restitution, and monetary penalties.
Thank you!
Thanks to YOU, the word is spreading. Thanks to my clients and friends who graciously referred me to their friends, clients, and relatives last month! I enjoy building my business based on positive comments and referrals from people like you. I couldn’t do it without you!
Lothamer Referral Program
- Refer a friend, family, neighbor, or coworker……
- …..and they call our office and purchase our Transcript & Stay on Collection Service…..
- …..You will get a $100.00 gas card!!
Phone # 1-800-619-8277 Email – Text – 1-877-955-9020
If you get a questionable notice or phone call or have unfiled tax returns or unpaid taxes, feel free to call or email Lothamer at 877-472-0021, toll-free at 1-800-619-8277 or
Your IRS Questions Answered Here…
Question:: I have a huge tax amount owing, the IRS is harassing me, and I need help. I got a quote from another company at a much lower price. Why should I go with you?
Answer: If someone quoted you a much lower fee, consider whether an experienced tax resolution CPA, EA, or attorney worth their “salt” would work for peanuts. – Especially given that IRS Representation is a highly valued skill set. You usually get what you pay for. This is your financial life we’re talking about here, and the stakes are very high. If you needed heart surgery, would you shop for the least expensive surgeon or get the best you can find? The same holds for dealing with the Internal Revenue Service. IRS problems can ruin all aspects of your life, your marriage, relationships with your children and family members, your employment, ability to buy a house, a car, money for retirement, or even having a bank account. You want the best possible person for the job, not the cheapest. Your IRS debt doubles every 6-8 years due to the daily compounding effect of interest and penalties, and the IRS has at least 10 years to collect from you – handing this off to the lowest bidder in town is probably not a wise decision. You’ll have peace of mind and sleep better at night knowing that we’re working hard on your case to protect you from asset and income seizures and get you the lowest possible settlement allowed by law!
We here at Lothamer Tax Resolution will ensure all your rights are protected!
Recent Lothamer results of Offer in Compromise settlements:
Amount of Tax Owed Settlement Amount Total Amount Saved Offer #
$81,134.08 $1,385.00 $79,749.08 9072-1
$74,101.68 $1,385.00 $72,716.68 9072-2
$53,022.01 $1,000.00 $52,022.01 6156
$215,700.32 $65,416.00 $152,284.32 4062
Call us 8 am – 6 pm 877-TAX-BILL www.Lothamer.com
Are You My Next Client of the Month?
This month’s Client of the Month is Michael of Holly, MI.
Michael commented how he was impressed with the knowledge of our Lothamer staff during his time here. From his initial consultation till the end, he was equally impressed with the efficiency of his case manager. Michael also shared how pleased with both the quality of the service and the results and would highly recommend our services.
Congratulations Michael !!!
You might be my next Client of the Month too!
Watch for your name here in an upcoming month.
JOKES OF THE MONTH
IRS training class is going on…..The teacher of the class says,”….and then you smile and say… all together now…’ that’s not deductible.’”
A visitor from Holland was chatting with his American friend and jokingly explaining the red, white, and blue in the Netherlands flag. “Our flag symbolizes our taxes,” he said. “We get red when we talk about them, white when we get our tax bill, and blue after we pay them.” ” That’s the same with us,” the American said, “Only we see stars, too.”
I’d Like to Hear From You!
If you have an IRS issue or want to refer a friend, relative, or client, we’d love to hear from you.
We at Lothamer Tax Resolution are experts in tax resolution and help taxpayers with their IRS
Problems every day.
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