BVWire Update

BVWireIssue #77-3
February 18, 2009

IRS territory engineer, Michael Gregory, offers the following corrections with regard to our recent article, IRS continues outreach efforts with BV while gearing up for 409A oversight:

We noted: The IRS is currently beefing up its team of engineers and appraisers, adding two territory managers in the west and two more in the east. Gregory responds: “We are not adding two territory mangers. We realigned ourselves on October 1. We no longer have a national engineering program manager and four engineering territory managers. Under the prior organization, the engineering program manager reported to the Director and Deputy Director of Field Specialists. Effective October 1, 2008, we have a Director and two Directors of Field Operations (West and East). Two engineering territory managers report to DFO West and two engineering territory managers report to DFO West.”

We noted: Managers network every month, talking about “what [they] can do to strengthen partnerships with the private sector.” Gregory responds: only the 409A valuation team networks every month. Not all engineering managers network every month.

We noted: Gregory chairs the team on 409A appraisals. Gregory responds: “I am the champion of the 409A valuation team. Note the IRS has a 409A team that is run through the employment tax program. This is the lead in this area. One small part of this is the 409A valuation team. I champion that 409A valuation team with a project manager and support team of various disciplines and participants.”

Please let us know if you have any comments about this article or enhancements you would like to see.