Qualified Appraisals and Qualified Appraisers

Decode IRS appraisal regulations and find practical solutions to current issues

Qualified Appraisers and Qualified Appraisals provides clarification on complex IRS guidelines, offering solutions and insights to help appraisers adhere to the latest Treasury Regulations concerning appraisals submitted in tax matters. From the Uniform Standards of Professional Appraisal Practice to IRS regulations, this book explores the body of law surrounding the production of "qualified appraisals" that the government and courts will accept.

The discussion covers estate, gift, charitable contribution, income taxes, and more, with expert guidance on the interpretation and application of complex regulations. As appraisers often are called upon to provide expert testimony in court, this book shares effective methods including the novel "hot-tubbing" technique that eliminates the appearance of bias in favour of a less-adversarial discussion. Cases are dissected as they relate to the application of existing appraisal laws, and the companion website features checklists, references, and additional cases as they become available.

The IRS regulations on qualified appraisers and qualified appraisals have sparked a storm of controversy, raising more questions than they have answered. This book acknowledges the problems and offers solutions to help appraisers produce work the IRS and courts will accept.

• Understand the laws surrounding "qualified appraisals" and "qualified appraisers".
• Gain insight on testifying as an expert, including new techniques.
• Explore solutions to common issues the IRS raises with respect to qualified appraisals and qualified appraisers.
• Examine cases that illustrate the nuances of appraisal law application.

In order for an appraisal to satisfy the government, it must be performed by a "qualified appraiser" specific for the type of property in question. This broad statement leaves much to question, but Qualified Appraisers and Qualified Appraisals provides the answers appraisers need to comply with the law and produce work that meets the latest standards.