BVLaw Case Update
Join Jim Alerding, a veteran valuator, and Sylvia Golden, BVR’s legal editor, for a discussion of some of the most consequential recent valuation decisions. This selection of state and federal cases includes two key state court rulings on the use of discounts in valuing minority interests in buyback situations, a state court decision on the admissibility of calculations of value in divorce proceedings, an expansive statutory appraisal ruling involving a public company from a North ...
BVU News and Trends June 2020
A monthly roundup of key developments of interest to business valuation experts.
IRS change to appraisal review sparks concern from ASA and others
The American Society of Appraisers (ASA) and 10 other appraisal organizations have sent a joint letter to the Internal Revenue Service and the Treasury Department expressing concern over a recent change to the way the IRS reviews appraisals prior to imposing a civil money penalty for valuation misstatements under IRC Section 6695A.
BVU News and Trends May 2020
A monthly roundup of key developments of interest to business valuation experts.
IRS adds locations to job postings for BV experts
A few weeks ago, we alerted you that the IRS was looking to fill six open positions for experienced business appraisers.
BVU News and Trends April 2020
A monthly roundup of key developments of interest to business valuation experts.
IRS update on how to file carryback refund applications
In a recent ABA webinar including IRS representatives, new practical information related to the carryback provisions in the recently passed CARES Act emerged.
IRS discusses tax implications of COVID-19 legislation
In an excellent ABA webinar that summarized and analyzed the COVID-19-related legislation Congress passed to alleviate the economic harm on businesses and persons, IRS Chief Counsel Michael Desmond spoke to some of the efforts the agency is making to achieve implementation.
The IRS to BVers: We want you!
No, not for an audit—the IRS is looking for experienced business appraisers to fill six open positions across the U.S.
Tales From the Trenches: How Recent Challenges with the IRS Impact Your Valuation
With a special focus on the recent Aaron U. Jones (USTC TCM 2019-101) case regarding tax affecting an S corp and a partnership, this workshop is the best way to get IRS insights short of going into litigation. Get real insights on how to avoid and what to do if working with the IRS on business valuation issues at all levels. Join Mike Gregory as he dives into conflict resolution (with assistance from the Collaboration ...
Landmark Jones case featured in upcoming workshop
“Read the Jones case,” an IRS official said when asked about the position the IRS is taking on tax affecting pass-through entities.
IRS ruling on subsequent events and valuation
In a private letter ruling, the IRS says that a pending merger is to be considered in valuing a company’s stock for gift tax purposes.
Asset-based appraisal unsuitable for fair value determination, court says
In a bitter fight between siblings over the buyout of the minority shareholder’s interest in a successful construction business, the trial court found the asset-based valuation the majority shareholder’s expert proposed was fatally flawed for at least two reasons.
Linde v. Linde
Appellate court upholds trial court’s finding that majority shareholder breached fiduciary duty to minority shareholder and buyout order; trial court performed careful valuation analysis finding defense expert’s asset-based approach was “simply an improper method of valuation in the present case.”
Court Says Asset Approach ‘Is Simply an Improper Method’ in Present Appraisal Proceeding
Appellate court upholds trial court’s finding that majority shareholder breached fiduciary duty to minority shareholder and buyout order; trial court performed careful valuation analysis finding defense expert’s asset-based approach was “simply an improper method of valuation in the present case.”
Reasonable Compensation for Closely Held Businesses + RCReports Demo
Determining reasonable compensation for closely held small and medium-sized businesses is not a magical or mysterious process. In fact, it is a straight forward process that relies on a basic understanding of the three different methods for determining reasonable compensation and when and where they apply. Join Stephen Kirkland and Paul Hamann for this rewarding and rich session. Practitioners armed with this knowledge and the proper tools can easily determine reasonable compensation for any company.
BVU News and Trends May 2019
A monthly roundup of key developments of interest to business valuation experts.
Kress gift tax case signifies approval of tax affecting—at least in federal district court
One aspect that has valuators excited about the Kress v. United States gift tax case is that the federal court that ruled on the taxpayers’ challenge to the IRS’s gift tax assessment accepted valuations from both parties’ experts that applied a C corporation tax rate to value minority shares in an S corporation.
How IRS turmoil from the shutdown affects BV
The IRS is doing its best to recover from the government shutdown, but business valuation experts need to be aware of certain issues, according to Michael Gregory (Michael Gregory Consulting LLC), who gave an IRS update during a recent BVR webinar.
BVU News and Trends November 2018
A monthly roundup of key developments of interest to business valuation experts.
Testing the S Corp Value Premium for Realism and Reasonableness
Not long ago, we attended the author’s session at a NACVA conference where she presented on this topic. We asked her for this article, which has some key takeaways from that session as well as from a longer paper she wrote.
BVU News and Trends October 2018
A monthly roundup of key developments of interest to business valuation experts.
IRS BV community is ‘fractured’
The IRS business valuation community is “very fractured,” leading to inconsistencies on audits, says former IRS manager Michael Gregory (Michael Gregory Consulting LLC).
Sit in on a real-world IRS audit
A former IRS manager will conduct a mock audit of an estate valuation matter during a special four-hour workshop on September 25.
What’s it like to be on the IRS audit hot seat?
Find out during a special four-hour workshop that pits a former IRS manager against a business valuer in a mock estate tax audit.