Michael Gregory,ASA, AVA currently the Chief Manager of Michael Gregory Consulting LLC. Formerly IRS 28 Years as Engineer and Valuer, Manager, Operations Team Lead, Controller, Acting Assistant District Director, Territory Manager
How to Write a Valuation Report for the IRS
This session introduces the framework for what the IRS wants to see in a valuation report, and explores how the IRS looks at a business valuation in the
Small Business Self-Employed Estate and Gift tax area as well as the Large Business and International area. The session begins with an understanding of how
the IRS is organized and the separate cultures within the IRS divisions. The IRS uses experience and professional standards to explore the valuation report
and applies professional standards when exploring appraiser penalties. Valuation standards from the AICPA, NACVA, IBA, ASA and IRS are covered. All IRS
business valuators are trained using NACVA and IRS business valuation standards.
Based on Mike’s experience and feedback from the U.S. Tax Court, U.S. Court of Federal Claims, U.S. District Court, individual Federal Judges, IRS
Litigation Attorneys, Department of Justice Tax Litigation Attorneys, IRS Appeals Officers, IRS Valuation Managers, and IRS Valuation Specialists, a
listing of the most common errors are summarized and discussed. In addition, having joined private industry, Mike covers the types of mistakes he has seen
while assisting experts and litigation teams going before the courts.
· Learn how the IRS is organized and how this impacts business valuation review and issue resolution
· Learn how the IRS classifies valuation reports for estate and gift tax purposes
· Understand how the IRS reviews a business valuation report
· Understand how to work with the IRS regarding business valuation report issues that may come up on audit
· Learn about the most common mistakes found in business valuation reports and how to avoid them