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New IRS Trap for GRATs When There Is a Merger Pending

The Chief Counsel office (IRS) recently released a memorandum, which comes to two primary conclusions. First, under the fair market value standard, the hypothetical willing buyer and willing seller of a company would consider a pending merger when valuing stock for gift tax purposes. Second, the retained interest is not a qualified annuity interest under § 2702 of the Internal Revenue Code (Code) because the donor used an outdated appraisal that did not take into account all the facts and circumstances of a pending merger.

Daubert Standard and FRE 702 Rejections on the Rise?

It appears that the courts are rejecting Daubert standard and FRE 702 challenges more frequently. Take a deep dive into potential reasons for this with our legal editor, Jim Alerding.

Demand for Forensic Litigation Professionals Creates Shortages

Lately, there has been chatter about the demand for experienced business valuation forensic litigation specialists exceeding the supply of such people.

Estate Planning Pitfalls

Estate planning can be a risky business. Some of those risks were on full display in a recent tax case, Nelson v. Comm'r.

Recent ESOP Ruling Changes the Game

Recently, a district court in Hawaii has ruled in favor of the trustees and sponsors in a case that is getting a lot of attention, Walsh v. Bowers, 2021 U.S. Dist. LEXIS 177184. The Department of Labor sued the defendants, which included two individual owners. read on to dive a little deeper into the details of this fascinating case!

Is Calculated Value Admissible in Court?

Recently a court in Arizona rejected the use of a calculation report, but an appellate court ruled it was wrong to do so and sent the case back to the lower court. The reasoning for this decision strikes at a broader question: is calculated value admissible in court?

DLOMs and DLOCs in Buyouts

The courts in the past few years have been sprinkled with cases dealing with whether a discount for lack of control (DLOC) or marketability (DLOM) should be applied in the case of a shareholder buyout.

ESOPs Are a Mine Fields for Valuation Analysts

The Department of Labor (DOL) has a long history of challenging transactions involving company owners selling some or all of their interests to an ESOP. The most common challenge is to the value the trustees approved for executing the sale of company stock held by owners to the ESOP.

Meet Jim Alerding BVR's New Legal Editor

Hi, I am Jim Alerding, CPA/ABV. Many of you know me from my presentations and articles over the years. I have over 40 years of experience in business valuation and litigation services. I started in 1980 in the BV and testimony arenas. Since my first case was a valuation for a divorce case in which I then testified, I started in BV and Litigation Support at the same time.

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