For years, Offer in Compromise (OIC) has been used as a means of collecting some portion of delinquent taxes owed when the taxpayer simply cannot afford to pay the entire debt. This program has resulted in taxpayers being able to recover from significant financial difficulties and get a “fresh start” on the future.
This has not been the case for Michigan residents and businesses owning the state of Michigan back taxes. Often, tax liabilities in Michigan go uncollected; the taxpayer suffers the ongoing collection calls and enforcement and the State of Michigan gets nothing.
However, that may soon be changing. The State and Local Tax Committee, along with the Procedure Committee are currently drafting legislative language to bring the Offer in Compromise remedy to Michigan. A similar measure was unsuccessfully introduced in 2005, however, Lothamer, Founder and President, Jesse I. Lothamer is far more confident of passage this year.
Lothamer knows the benefits of the OIC program at the Federal level, after helping thousands of people with their tax problems and helping the government recover some of the dollars owed. It makes little sense for taxpayers to resolve tax issues at the Federal level but not be able to pay something and resolve tax issues with Michigan.
Lothamer is a professional firm of Certified Public Accountants founded by Jesse I. Lothamer, J.D., C.P.A. in 1978. The firm specializes in Tax Representation and Tax Problem Resolution, and has helped thousands of clients settle their tax problems with the IRS and State of Michigan. With offices across the State of Michigan, Lothamer is a leading firm for tax help in Michigan, and will continue to provide the general public with tax representation and tax problem resolution for a wide variety of tax problems.