Stories
How Does the IRS Define a "Qualified Appraiser?"
Lynn Magnusson, ASA, AAA, ISA AM explains the standards the IRS uses to define a "qualified appraiser."
Paintings Undervalued by $1.77 Million in Estate Tax Case
If the IRS determines that you gave them a misleading appraisal report, expect to pay. In Estate of Kollsman v. Commissioner, the Tax Court found that the evaluation used for the Estate's taxes was off by $1.77 Million. What went wrong?