IRS appraisal requirements

Tax-Related Appraisals: Section 6701 & Circular 230

November 1, 2011

This is the second half of an article on the consequences of the Internal Revenue Service’s new and significant enforcement initiatives that specifically target abusive tax-related appraisals and the individuals who prepare them. The first half was published in a previous post; the article is authored by Jay Fishman, FASA, Business Valuation Review Editor and Chairman of the American Society of Appraisers Government Relations Committee; Bruce Bingham, ASA, former Chairman of the Business Valuation Committee; and Peter Barash, Government Relations Consultant to the Business Valuation Committee.

Internal Revenue Code Section 6701 Read more... (1946 words, estimated 7:47 mins reading time)

IRS Targets Abusive Tax-Related Appraisals

October 18, 2011

I thought I’d pass along some information about the IRS’ strategy for Estate Tax Returns and their related appraisal. The moral of the story is to hire a qualified appraiser and save a lot of trouble. Because this article is so long, I’ve broken it into 2 separate posts. The second half will post next week.

By Jay Fishman, FASA, Bruce Bingham, ASA, and Peter Barash Read more... (1461 words, estimated 5:51 mins reading time)

Qualified Appraisers, ASA & the IRS

September 30, 2010

I’m proud & pleased to present a guest article with this reprint of the President’s Message from the Sept 2010 newsletter of the American Society of Appraisers NorCal Chapter. Thanks, Bob, for allowing us to share your message on our blog!

by Robert P. Lentz III, ASA

At a recent Northern California ASA meeting, I sat next to a retired IRS appraisal reviewer who answered the on-going question of qualified appraisers rather succinctly.

Off the record, he said, the IRS has such respect for the American Society of Appraisers designation that very few ASA-submitted appraisals are required to be passed up the chain for higher review. Read more... (760 words, estimated 3:02 mins reading time)

Equipment Appraisal in Northern California
Jack Young, ASA, CPA
Jack Young is an Accredited Senior Appraiser (ASA) of the American Society of Appraisers specializing in machinery and equipment. He is a Certified Public Accountant and has a Master Personal Property Appraiser (MPPA) designation from the National Auctioneers Association. Jack serves as an Officer of the Northern California Chapter of the American Society of Appraisers. He values equipment and machinery throughout Northern California and beyond, including business assets, heavy equipment appraisal, farm equipment appraisal, construction equipment appraisal, medical equipment appraisal, restaurant equipment appraisal, retail equipment appraisal, factory equipment appraisal, trucking equipment appraisal, rolling stock appraisal, manufacturing plant equipment appraisal, and mining and aggregate equipment. NorCal Valuation provides qualified, expert equipment appraisals for estate purposes, asset verification, collateralized lending, legal matters such as loss claim appraisals and expert witness testimony, business combination, buy/sell and due diligence appraisal, financial reporting valuation (SFAS 141R, SFAS 142, SFAS 144, SFAS 157) and family law matters. Whatever your equipment appraisal needs, call 530-795-5536 for consulting services and for an ASA USPAP equipment appraisal with the most appropriate appraisal approach for your specific appraisal needs.

Cost Segregation Studies
Reduce your tax liability by using increased depreciation deduction in the early years of ownership for all income-producing properties: facilities such as manufacturing facilities, industrial use facilities, research labs, financial institutions, office buildings, hotels, retail stores, apartment complexes and shopping centers—even single family rental units. Call 530-795-5536 for a free cost benefit analysis of how a cost segregation study can save your tax dollars.
Qualified Equipment Appraiser

Qualified Equipment Appraiser

Equipment Appraisals and Cost Segregation Studies
in Northern California
NorCal Valuation Equipment Appraisal provides qualified equipment appraisals and Cost Segregation Studies throughout Northern California and beyond, including Greater Sacramento, the San Francisco Bay Area, Northern California coast, Central Valley, Sacramento Valley, San Joaquin Valley, Eastern Sierra, Yosemite, Bakersfield and even western Nevada. If you are looking for a Cost Segregation Specialist or for a certified, experienced equipment appraiser to value your machinery and equipment, call Jack Young at NorCal Valuation, 530-795-5536, for a free quote on equipment appraisals, business asset appraisals or Cost Segregation Studies in Sacramento, Santa Barbara County, Salinas, San Joaquin County, San Luis Obispo County, Monterey County, Chico, Redding, Red Bluff, Yuba City, Colusa, Woodland, Stockton, Modesto, Watsonville, Santa Cruz, Merced, Fresno, Visalia, Oakland, Hayward, Fremont, Emeryville, San Francisco, Napa, Santa Rosa, Truckee, Reno, Tahoe, Grass Valley, Truckee, Auburn, Bridgeport, Mammoth, Bishop or other west coast location.

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