Estate Trust & Date of Death Real Property Appraisals

Appraisals are increasingly coming under IRS scrutiny. If you need to obtain an appraisal of a decedent’s property, make sure that the person appraising the property is an expert in that field. The appraiser will, as a rule, attach to the appraisal a resume or curriculum vitae showing his or her qualifications. If it’s not attached to the official appraisal, ask for it.

Should the IRS ever question the valuations you use on a Form 706, appraisals jotted down on a piece of paper may not fly, but one that documents the value of the item in question and the qualifications of the appraiser most likely will. Goosby Valuation is an expert in appraising real estate in Greater Los Angeles. Call Now:

Got a Question?

Do you have a question relating to real estate appraisals? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.

Information
Question
AccountsWorld:
 
Regulations clarify bonus depreciation treatment
9/13/2019 4:45 PM
The IRS issued final regulations and new proposed regulations on the 100% bonus depreciation deduction that was amended by the law known as the Tax Cuts and Jobs Act...Read More
 
Corporations have short period to apply for IRS CAP program
9/12/2019 2:04 PM
The IRS announced that it is opening its Compliance Assurance Process (CAP) program to new applicants for the first time in years, but applications must be made between Sept. 16 and Oct. 31...Read More
 
Built-in gains and losses subject of new proposed regs.
9/10/2019 11:15 AM
The IRS issued proposed regulations that provide a safe harbor for corporations to calculate built-in gains and losses after an ownership change...Read More
 
Proposed regs. clarify reporting requirements for tax-exempt organizations
9/10/2019 8:30 AM
The rulemaking mainly consolidates existing guidance in one location, but it also responds to a recent court decision that held invalid certain changes to donor-reporting requirements...Read More
 
IRS offers expatriate tax relief
9/9/2019 3:33 PM
The IRS announced procedures to allow certain individuals who have renounced their US citizenship to get into compliance with their U.S. tax obligations and obtain relief for back taxes...Read More
 
Tax accounting rules issued for advance payments
9/6/2019 2:15 PM
Taxpayers that use the accrual method and receive advance payments for good or services were given new rules by the IRS on when to include the advance payments in income...Read More
 
Proposed regs. govern maximum automobile values
8/22/2019 6:40 PM
The IRS issued proposed rules that provide maximum automobile values for the cents-per-mile and fleet-average valuation rules used to determine the amount to include in an employee’s gross income for personal use of an employer-provided vehicle...Read More
 
Underpayment penalty relief now automatic for eligible filers
8/15/2019 1:15 PM
Some taxpayers who paid 2018 underpayment penalties will receive refund checks because the penalties will be automatically waived for those who qualify, the IRS announced...Read More
 
Alimony tax gap swells to $3.2 billion, TIGTA finds
8/13/2019 4:00 PM
Discrepancies between the amount of alimony deducted by payers and reported as income by its recipients increased by 38% in six years, the Treasury Inspector General for Tax Administration reported...Read More
 
Rules proposed for classifying cloud and digital content transactions
8/13/2019 9:05 AM
The Internal Revenue Service proposed regulations to clarify how to classify transactions involving digital content and cloud computing...Read More