Jim Hitchner, Jim Aldering and Mike Gregory discuss the IRS's recent release of the Discount for Lack of Marketability Job Aid for IRS Valuation Professional that was officially released the day before on August 22, 2011. Mike Gregory was the champion of this issue at the IRS before retiring in July 2011. The background, and an overview of the document are presented and a more detailed discussion on the most commonly used methods allows the participant to understand how the IRS approaches DLOM issues. It is recommended that all business valuators download this from the IRS at www.irs.gov, read it and incorparate many of the ideas presented if working on a DLOM for tax purposes.