Tax Resolution, Fraud Investigative Services, and Tax Monitoring
Our team of Enrolled Agents are former IRS Collection Managers, Auditors and Tax Attorneys and ready to help.
Our Services
Tax Resolution Assistance
Lott Professional Services (LPS) specializes in tax resolution/audit defense with the Internal Revenue Service and other tax agencies. We have a team of former IRS revenue officers, IRS auditors, IRS criminal agents and IRS attorneys standing by to provide immediate IRS relief. Do not fight the IRS alone or communicate to them without meeting with us for a free consultation. LPS has provided taxpayers millions of dollars in relief to tax agencies.
Call 888-248-2966 for a free consultation.
Fraud Investigations
At LPS, we have the ability to identify fraud, employee theft or embezzlement, resolve allegations or suspicions of fraud and assist in the recovery of fraud losses. Additionally, we can assist we implementing effective anti-fraud controls and educate employees to deter fraud and how to report wrongdoing. LPS also can assist in preparing for divorce cases and locates hidden asset to prepare for other litigation matters .
Bookkeeping
We assist both business and individual clients who need help setting up and/or maintaining their books. By using our service, you will be ready to meet tax filing deadlines.
Tax Resolution
IRS Representation
Do you owe back taxes to the IRS?
Do you have years of unfiled returns because you know you can't pay the tax?
Are your tax returns being audited?
Do you owe corporate or employment taxes and can't pay?
These issues can be resolved and you don't need to fight the IRS alone. We have years of working for the IRS in the field collection department and know all the tactics. The first thing you need to know is the taxpayer bill of rights:
The Right to Be Informed
The Right to Quality Service
The Right to Pay No More than the Correct Amount of Tax
The Right to Challenge the IRS’s Position and Be Heard
The Right to Appeal an IRS Decision in an Independent Forum
The Right to Finality
The Right to Privacy
The Right to Confidentiality
The Right to Retain Representation
The Right to a Fair and Just Tax System
Don't fight the IRS alone.
Enrolled agents (EAs) are America's Tax Experts. EAs are the only federally licensed tax preparers who also have unlimited rights to represent taxpayers before the IRS.
Why Hire an Enrolled Agent?
An enrolled agent is a person who has earned the privilege of representing taxpayers before the Internal Revenue Service by either passing a three-part comprehensive IRS test covering individual and business tax returns, or through experience as a former IRS employee. Enrolled agent status is the highest credential the IRS awards. Individuals who obtain this elite status must adhere to ethical standards and complete 72 hours of continuing education courses every three years.
Fraud Investigations
Fraud Services
Did you know in 2016 that 30% of all fraud cases occured in small businesses?
Do you have employees living beyond their means, having financial difficulties, unwilling to segregate duties or addiction problems? These are common red flags leading to occupational fraud. Don't let a possible fraud situation get ignored. The mean loss from a single case of occupational fraud was $150,000, per ACFE 2016 Report to the Nations on Occupational Fraud and Abuse.
We investigate Corruption (conflicts of interest, bribery, illegal gratuities, economic extortion), Asset Misappropriation, and Financial Statement Fraud (net worth overstatement and understatements).
As a member of the Association of Certified Fraud Examiners (CFE), world's largest anti-fraud organization, we fight fraud by effectively preventing, detecting and investigating cases of fraud. CFEs produce reports documenting who did it and how much was lost. These results assist with litigation whether criminal or civil.
Cyber Investigations
What is a Certified Cyber Intelligence Investigator (CCII)?
CCII's specialize in e-commerce investigations to include:
- Non-delivery of goods schemes
- Auction fraud (eBay, etc)
- Debit/credit card fraud
- Computer fraud
- Check fraud
- ID theft
- Financial institution fraud
- Dark web investigations
- Social media investigations
These crimes usually involve the internet with the most common scam of purchasing goods online and never receiving the items. One of the other popular crimes in the e-commerce world is an employee stealing products and reselling them on auctions sites such as amazon, eBay, craigslist and facebook. If you believe you have been a victim on a cyber crime reach out to us immediately for a free consultation.
Third-Party Administrator for cash balance plans
What is a Defined Benefit Cash Value Plan?
A Cash Value Plan is designed to benefit business owners and can be set up even if your business has a 401k plan in place. At Lott Professional Services, we team with expert actuaries who consult with business owners, develop the plans, file the yearly tax returns, and ensure your plan runs smoothly.
Tax Deductions and Allocation of Plan Contributions
How the tax deduction for the contributions to a Cash Balance Plan is taken depends on the entity of the plan sponsor. The contributions for non-owners are always a company tax deduction. The owner contributions are either a company tax deduction or a personal tax deduction depending on whether or not the plan sponsor is taxed as a corporation.
Reason for a Cash Value Plan:
1. Higher anticipated tax rates for small business owners and professionals
2. The increased number of small business owners who are getting closer to retirement age
3. The government’s desire to have privately funded pension plans help fund the retirement of America’s workers
4. The need for larger retirement contributions that can’t be deducted in defined contribution plans
5. The emergence of Cash Balance Plans as an accepted way of controlling Defined Benefit Plan employee cost while still maximizing deductions for the owners.
Questions to Ask:
1. Does the business provide enough cash flow to support additional contributions to a retirement plan?
2. Are the only employees of the company the owner, spouse, children, and/or parents of the owner?
3. Do any of the owners feel they are behind on retirement savings?
4. Is the ratio of employees to owners less than 10 to 1?
5. Is the owner at least 10 years older than the youngest employee?
6. Are profits going to be stable enough for the next 3 to 5 years to commit to funding a retirement plan?
7. Is someone at the company willing to spend up to 5 hours per year to deal with retirement plan related issues?
8. Are the employees or recruits asking for additional plan contributions?
9. Does the owner feel that a retirement plan would help to recruit and retain the best employees?
10. Is the owner looking for tax deductions?
Reach out to us today for more information and free testing to see if your business qualifies for this tax deduction benefit plan.
