Thoughts and Insights by Michael Gregory

Audits and What’s New at the IRS

Tax type papers, coffee cup and calculator on a destk
January 6th, 2020

Token Concessions and Counteroffers in Negotiations with the IRS on Business Valuations

When you think of negotiations, do you think about the IRS? With all of the negatives on TV about the big bad IRS it is important to realize they are people with a job to do, and they are indeed people. As with any organization there can be zealots that are over the top. Depending on your experiences you may have met one, and that person may have set your bias on the IRS. However, the vast majority of IRS examiners are reasonable people. if you are open to resolving issues with the IRS, here are two key elements to consider. Before proceeding, reflect and remember your ethical principles and values to be true to yourself. If what you want to do is do the right thing, do what it takes and have closure these ideas can help you with the IRS. Let’s look at token concessions first.

September 4th, 2017

Negotiations, Neuroscience and the IRS

In an experiment by neuroscientists participants were given $10 dollars and were told they needed to share the amount with another party. If the other party accepted the offer they could keep the difference. This resulted in some interesting findings that were found to tie directly into negotiations. The commentary that follows could be used in any negotiation including those with the IRS and in other venues where one party seems to have an upper hand.

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