A Business Valuation Newsletter for Business Owners and the Professionals Who Advise Them
Facing the IRS: Some Quick Tips to Make the Experience Less Painful
There comes a time in the careers of most valuation analysts when they end up having a valuation report reviewed by the Internal Revenue Service (IRS). This is understandably a stressful encounter, but knowing how to approach the IRS and what to expect from an audit can make a big difference in successfully resolving any issues.
Frequently the key to a good and fair review of a valuation report is getting in front of the right IRS person. Mike Gregory, who recently retired from the IRS and who served them for 28 years as an engineer and valuer, recently spoke to the Financial Consulting Group (FCG) in Atlanta about working with the IRS. FCG is the largest group of fraud and business valuation services firms in North America.