Thoughts and Insights by Michael Gregory

IRS Updates & Help

A hot tub
April 1st, 2019

Hot Tubing with the IRS in U.S. Tax Court on Valuation Cases

Over the last few years the U.S. Tax Court has been experimenting with “hot tubbing” experts [concurrent witness testimony] on cases so that the U.S. Tax Court Judge can informally sit with the experts and ask questions. The commentary that follows considers an application of The Collaboration Effect TM to this situation.

Puzzle pieces coming together with puzzle piece names of goal, vision, strategy, planning and process
January 7th, 2019

What is the best process when it comes to a negotiation?

Process matters.  Are you a “win all” type negotiator implying win everything at all costs?  That is, you win and they lose.  By contrast, are you a win-win negotiator oriented towards expanding the pie negotiator so that both you and the other party can both do better?  That is focusing on mutual gains.

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.

April 17th, 2017

Business Valuation and Conflicts with the IRS

Today the focus is on the IRS, business valuation and how to overcome differences of opinions with the IRS.  Although our society reinforces confrontation, winning and overpowering the other side, I am offering a way to reduce stress, save time, save money and work to resolve issues with the IRS.  This method does not always work, but in my experience it works nearly all the time.  As such consider the approach offered as a way to resolve your business valuation issue with the IRS.  I also ways to proceed should the recommended approach not work. 

April 10th, 2017

Fairness in Negotiations with the IRS

When working with the IRS recall that one of your rights in the IRS Taxpayer Bill of Rights  (#10) is for the system to be just and fair. This article discusses this issue related to a recent business valuation case to resolve an issue.  Stay positive, remain professional, focus on the facts related to the issue, listen to understand the IRS representative's perspective and work to resolve the issue. 

Negotiations taking place in a boardroom.
April 3rd, 2017

The Importance of Relationships in Negotiation

Before beginning or even entertaining a negotiation, thought should be given to understanding the other party, a social media search, building a relationship, listening to the other party and educating the other party.  These are all elements that are needed before beginning the actual process of negotiating to enhance the chances of success.

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