Resolve Conflicts With the IRS on Business ValuationsResolve Conflicts With the IRS on Business Valuations

The Internal Revenue Service has clear expectations on what its employees are expected to do related to business valuations when working on estate and gift tax cases. However, limited resources can place severe constraints on IRS business valuers working with IRS estate and gift tax attorneys (ETAs). Given this potential conflict relating to quality and timeliness, consider these insights regarding how to address conflicts with the IRS related to business valuations. It’s important to build constructive, connecting relationships and to actively listen to IRS concerns before judiciously educating the IRS as you work towards a negotiated closure on examination. 

Audit Basics

An IRS ETA doesn’t necessarily have to contact an IRS business valu...