You will learn about the IRS internal Job Aid entitled “The IRS Valuation of Non-Controlling Interests in Business Entities Electing to be Treated as S Corporations for Federal Tax Purposes: A Job Aid for IRS Valuation Analysts” dated October 29, 2014. This is presented by Michael Gregory, the original IRS issue champion of this initiative. This recently obtained internal IRS document presents background on this topic from the perspective of the IRS. This document was written to help IRS professionals that are examining S-Corp valuations. Major elements of this document are presented and Michael Gregory offers his insights as to what this might mean for business valuers providing S-Corp valuations for federal tax purposes.