AICPA Witnesses to Testify at IRS Hearing on Proposed Estate Valuation Discount Regulations

November 30, 2016

Washington, D.C. (Nov. 30, 2016) – The American Institute of CPAs (AICPA) will have two witnesses testifying at the Dec. 1 Internal Revenue Service (IRS) hearing on proposed regulations regarding the valuation of interests in corporations and partnerships for estate, gift and generation-skipping transfer tax purposes. 

Justin P. Ransome, J.D., a member and past chair of the AICPA Trust, Estate, and Gift Tax Technical Resource Panel and the chair of the AICPA Family Limited Partnership Issues Task Force, will focus his testimony on technical tax issues related to the proposed regulations.

Michelle F. Gallagher, CPA/ABV/CFF, chair of the AICPA Accredited in Business Valuation (ABV) Credential Committee and ABV Exam Task Force and a member of the AICPA Family Limited Partnerships Issues Task Force, will testify specifically about valuation issues.

The IRS hearing is scheduled for 10:00 am on Thursday, Dec. 1 at the Internal Revenue Service Building, 1111 Constitution Avenue, N.W., Washington, D.C.