Appraisers can use assistance while developing an issue, writing a report, or preparing to work with the IRS on an issue. The appraisal report should be included with an estate and gift tax return when filed to assist with the classification process and to reduce the probability of an audit. If an issue develops, often the client of the appraiser is addressing valuation issues with the wrong party (estate and gift tax attorney at the IRS) rather than with a business valuator at the IRS. This can cause frustration on both parties’ parts. Michael Gregory Consulting, LLC has provided free advice to appraisers that have found themselves in this situation, with very satisfactory results.
Having led national teams on valuation (business and real property), 409A, appraiser penalties, reasonable compensation, discounts for lack of marketability, subchapter S corporations, family limited partnerships, and other issues at the IRS, Michael Gregory Consulting, LLC has insight to assist firms with risk management in these and other areas.
With 12 years experience in mediation (qualified neutral with the MN Supreme Court) and having worked issues with differences between the IRS and taxpayers from a few hundred thousand to on the order of a billion dollars, this experience can help you resolve all types of issues between parties. Applications between family members, partners, and internal parties have resulted in markedly improved results.
Mike has spoke to estate planning councils, the Judge’s Conference, state CPA organizations, valuation professional groups (ASA, NACVA, IBA, state CPA ABV organizations) and other professional organization (CFA’s, ASCSP’s, wealth management organizations, banking organizations, and real property organizations). He is ready to meet with your organization too. Since announcing his new book on How to Work with the IRS: Strategies for Attorneys, Accountants and Appraisers, Mike has received over 60 responses for potential speaking engagements. He would be happy to speak with your organization too.
With a background in strategic planning and over 25 years management clients have asked for assistance in this area and in reviewing current processes and/or interpersonal group dynamic issues. Initial assistance with strategic planning has consistently developed into additional value added services. These services have resulted in an improved focus, execution, and alignment providing improved productivity, morale, and customer service.