Best Practices on Valuation Issues With the IRS

If the Internal Revenue Service audits one of your clients based on valuation issues, you need to know how to best prepare for the process. Here are some practices you can use from the time a business valuer or appraiser¹ is selected to prepare an appraisal² for federal tax purposes for an estate or gift tax return, considering the IRS classification³ and audit process⁴ through completion of an audit.