Lothamer Tax Resolution - Peoria
820 SW Adams St
Peoria, IL 61602
309-247-9494

The Lothamer Tax Resolution Peoria office is here to help businesses and individuals in Peoria and across Central Illinois. We help individuals and businesses big and small with a wide range of complex tax issues.

Our team of tax attorneys, CPAs, and enrolled agents will identify your tax problem and formulate a creative solution to help get you back on the right track.

Tax Representation & IRS Help

Founded in 1978, Lothamer is one of the most well known and well regarded tax resolution firms in the Midwest with offices across Illinois, Indiana, and Michigan. Our Peoria office will assist you with common and complex tax problems that individuals and businesses face with the Illinois Treasury Department and the IRS. Give us a call if you are experiencing any of the following:

• I can’t pay the taxes I owe
• The IRS or Illinois Treasury Department has been contacting me about my taxes owed
• The IRS or Illinois Treasury Department has imposed penalties or interest on my tax debt
• My wages are being garnished or my personal assets are being seized
• There is a levy on my bank account
• I have delinquent payroll taxes
• I haven’t filed my taxes in years

Even if you have not filed your taxes in a long time, you may be eligible to receive a refund or stimulus check from the government, which can help provide immediate financial help for your situation.

We will work with you and provide immediate relief or long-term solutions so that your finances stay on track without any more worries about tax bills! Give our Peoria, Illinois office a call at (309) 247-9494 to schedule a free initial appointment and find out if you're eligible for any of these great solutions:

IRS Fresh Start Program

The Fresh Start Program from the IRS is a great way to start off fresh with the IRS and reduce your total taxes owed by a considerable amount. We'll help you by excluding assets and claiming expenses that are reasonable, necessary living costs which will allow for an agreement more favorable than what's available through normal methods - both individuals or businesses can take advantage of the Fresh Start Program.

Offer in Compromise

If you have a lot of tax debt and want to get out from under it, consider using the Illinois Offer in Compromise program. This offer allows for payments on your debts with an upfront lump sum payment that can lower overall taxable income. Not everyone qualifies, and there is a considerable amount of paperwork that needs to be filed. Our clients have over a 90% success rate when they work with us while those who try on their own typically have a 50% success rate.

Bank Levy & Wage Garnishment Release

We know that you need a reliable source of income, so we will immediately work to stop the levies placed on your bank as well as release a wage garnishment.

Penalty & Interest Abatement

The IRS pressures people to pay taxes on time by imposing harsh penalties. But if you qualify for an abatement and interest reduction, Lothamer can help significantly reduce your total taxes owed.

Installment Agreement

When you can’t pay taxes owed, setting up an installment agreement can work in your favor. Installment agreements help avoid penalties and interest by setting up payment plans that are a better fit for your financial situation. The process isn’t simple however, and it requires working closely with the IRS or state of Illinois to set up an installation agreement.

Statute of Limitation

The IRS is limited to a 10 year timeframe to collect unpaid taxes, which we can help you use to your advantage avoid by identifying Collection Statute End Dates (CSEDs) for periods in your record. Additionally if there were previous years where tax refunds or stimulus payments are owed - whether big or small – we’ll help you get them. The longer you wait the less likely you will be eligible to receive a refund as they expire after 3 years.

Bankruptcy

Filing for bankruptcy may seem drastic but eliminating unnecessary costs could prove invaluable down the road. We'll assess if Chapter 7 or Chapter 13 would work best based off what types taxes and penalties will affect your situation.

Currently Not Collectible Status

With the IRS Currently Non-Collectible status, you can often avoid collection efforts while preparing an Offer in Compromise or filing for bankruptcy.

Rest easy knowing that Peoria’s Lothamer Tax Resolution staff has the experience to take care of your tax problems. From accountants, lawyers and enrolled agents for every type or need - there's a team out here perfect just for you!