Applying AICPA Business Valuation Standards in Tax Practice
the AICPA issued Statement on Standards for Valuation Services (SSVS) No. 1, Valuation of a Business, Business Ownership Interest, Security, or Intangible Asset, effective for all engagements accepted on or after January 1, 2008. The new standards apply to...
Published on May 02, 2010
IRS Oversight of CPAs Who Provide Valuation Services
With the enactment of Sec. 6695A, the IRS was given new responsibilities to ensure the quality of appraisals and appraisers who provided information in support of a taxpayer’s federal tax filings.
Published on November 04, 2013
The Valuation of FLPs
Due to the popularity of family limited partnerships (FLPs) and the significant tax savings they can provide, the IRS has sought to limit the benefits of their use. As part of its attack on an FLP, the IRS frequently will challenge the value of the FLP that is claimed on
Published on January 28, 2011
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