How to Work with the IRS, What Estate and Gift Tax Attorneys Need to Know When Working with the IRS, Discounts for Lack of Marketability and the IRS

How to Work with the IRS

In this session participants will briefly be introduced to how the IRS is organized in general and specifically relative to estate and gift tax issues.  Issue resolution techniques are explored focusing on negotiation and mediation approaches.  The classification of estate and gift tax returns is introduced.   Six real world examples are presented to provide you with insights on how to work effectively with the IRS.  As a participant you will gain insight on how the IRS works and have your questions answered.

What Estate and Gift Tax Attorneys Need to Know When Working with the IRS

 

Some interesting statistics regarding estate and gift tax returns are presented and then Michael Gregory provides insights on several practical areas.  These include steps to take when preparing the return, how to assist the classification process for your client; auditing tips and steps you can take during an examination and how to resolve issues during an examination.  Insights are also provided for when a case is unagreed in examination and it proceeds to Appeals for potential settlement based on the hazards of litigation or if still unagreed to one of three federal court jurisdictions.  Insights on these courts are provided to assist you in these areas as well.

Discounts for Lack of Marketability (DLOM) and the IRS

 

This session will initially explore the background and the IRS publication “Discount for Lack of Marketability – Job Aid for IRS Valuators” published by the IRS August 22, 2011.  Mike championed this issue when he was with the IRS.  An update on additional sources and current methods for consideration when developing a DLOM will bring the participant up to date on the issue.  Recommendations are made on what you should consider when a DLOM is being prepared.   This will provide you with the state of the art relative to DLOMs and give you insight on what questions to ask your business appraiser.