The Feds Carry a Bigger Stick

Only a few valuation-related cases were decided in 2007, but their negative impact on taxpayers was enormous. For appraisers and advisors, only a few rules were adopted last year — but their whole world got harsh. Yet not all of the valuations news in 2007 is bad: The federal courts showed a healthy appreciation for the valuation of restricted, non-marketable stock and the built-in gains tax liability of an asset-holding C corporation.