What's The Big Deal

The valuation profession and Internal Revenue Service have been at odds for over 20 years regarding the impact of capital gains tax liabilities on the value of privately held companies that hold appreciated assets. This dispute has had its fair share of skirmishes that have made their way to the U.S. Tax Court and beyond. Slowly but surely, arguments for recognition of these contingent liabilities have begun to resonate with the IRS and judiciary. The origins of this dispute date back t

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