Welcome to our Berkshire Tax Resolution
Berkshire Tax Resolution defines an Offer in Compromise as an offer to settle your complete tax liability for an amount usually less than what you owe.
Generally, it should be your net worth, plus your disposable income for the next 5 years, clarifies Berkshire Tax Resolution. For many taxpayers this amount is minimal. By law, the IRS can’t reject your offer just because of the amount.
Berkshire Tax Resolution would like to point out that a compromise is effective for the entire assessed liability for taxes, penalties and interest for the years or periods covered by the offer. All questions of tax liability for the year(s) or period(s) covered by such offer in compromise are conclusively settled, explains Berkshire Tax Resolution. Neither the taxpayer nor the government can reopen a compromised case unless there was falsification of information or documents, concealment of assets, a mutual mistake of a material fact was made that would be sufficient to set aside or reform a contract, or the taxpayer fails to meet his filing requirements for the five years following the acceptance of the offer.