Appraisal adjustments: pension protection act: new language of appraisal, valuation.
California CPA › Vol. 75 Nbr. 7, January 2007
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Federal tax
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Appraisal adjustments: pension protection act: new language of appraisal, valuation.
The Pension Protection Act signed into law Aug. 17, 2006, changes the way appraisals are handled by the IRS--and forces practitioners to rethink their procedures in a number of areas that deal with asset values in the preparation of tax returns.
In addition to limiting charitable contributions of household items and clothing, the legislation narrows the tolerance range for misstatements, imposes civil penalties on appraisers and p...See the full content of this document
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