Business Valuations and the IRS

Business Valuations and the IRS: Five Books in One is the most comprehensive publication ever written for business valuers who prepare appraisals for federal tax purposes. It compiles five books into one book with five parts, with the first two parts presenting processes and approaches to resolve conflict, followed by three parts addressing the most common adjustment areas by IRS engineers and valuers.

PART ONE offers an orientation to IRS organization and culture, IRS official and unofficial rules of engagement, how classification works in general and in business valuations in particular, suggestions for how to work with IRS valuers and specialists, and recommendations for using expert witnesses.

PART TWO shows the reader how to resolve issues with the IRS. The most common errors in valuation are presented, followed by strategies for issue resolution and mediation, suggestions for using the IRS evaluation process to resolve issues, strategies for resolving conflicts with IRS teams and agents, and suggestions for writing a business valuation report for the IRS while avoiding potential penalties.

PART THREE focuses on S-corp valuations and the additional risks associated with S-corps. Fifteen items are presented that business valuers should request from clients in every S-corp valuation. Recommendations are then offered based on how the IRS approaches S-corp valuation issues.

PART FOUR addresses reasonable compensation. This includes a thorough review and critique of the IRS Job Aid on reasonable compensation as well as its extremely useful appendix. Specific recommendations are presented based on practical experiences with the IRS.

PART FIVE provides the reader with the most current thinking, ideas, tools and approaches related to Discount for Lack of Marketability. The IRS Job Aid is presented and critiqued with the most current thinking by then-current as well as new models used by valuers.

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