What Is A Valuation Dispute?

Many of the disputes between the IRS and a taxpayer are the results of simple disagreementsthe

IRS thinks one thing, while the taxpayer thinks another, and a Washington D.C. tax lawyer must sort out the situation. A classic case of a dispute that is mostly just a case of disagreement between the government and the taxpayer is an IRS valuation dispute in Washington, D.C. or Maryland or Virginia.

There are many reasons why a taxpayer might need to value property:

Charitable donations;

Sales;

Business transfers;

Estate distributions;

Gifts;

Damages due to theft, divorce, lawsuit, casualty, loss, etc.; and

More.

However, sometimes the IRS may disagree with the taxpayers assessment of how much something is worth, that is, his or her valuation of the worth. Sometimes it may be because the taxpayer deliberately undervalued or overvalued the item in order to pay fewer taxes. Sometimes an unscrupulous person at the IRS may have valued the item improperly so the taxpayer would pay more taxes; sometimes the IRS makes an honest mistake or is unaware of an extenuating circumstance. However, all too often, it is a simple disagreement as to the monetary worth of an item.

Thats where a lawyer comes in. When the IRS challenges the taxpayers valuation of an item, it is necessary for the taxpayer to hire a Maryland tax lawyer to make sense of the situation, just like for any other Virginia business tax dispute. Many of the items there are valuation disputes over are extremely complicated. For instance, in buying or selling a business, millions of dollars may be tied up in various ways. Therefore, a Washington, D.C. tax lawyer may be capable of looking past trivial details to understand exactly how much its worth and to be a fierce advocate in your favor.

The Thorn Law Group has years of experience in dealing with valuation disputes. They hire a team of appraisers to make sure that everyone involved knows exactly how much the property is worth. When the IRS has overlooked a crucial fact that makes the valuation lower than it may actually seem, the Thorn Law Group will not fear to point out that theyve made a mistake. On the other hand, if someone at the IRS has made a mistake, the Thorn Law Group is sure to catch it and resolve the situation to your favor.

It is not necessary to be afraid of a valuation dispute. They are a natural consequence of a system run by fallible human beings. With a talented Washington, D.C. tax lawyer on your side, you may rest assured that the situation will fall out as favorably as possible, with your property accurately assessed and the correct tax burden paid.

by: Kevin Thorn

POST COMMENT

Tips To Select The Best Drug Rehab Centers Cash Till Payday Easy Cash Help Restaurant Acquisition Made Easy By A Professional Restaurant Licensing Company Best Ways To Use Your Conservatory Structures Refurbishment Of Chillers Certified Healing Programs For Drug Addicts Review Of Mahindra Xylo Improve Cleansing With Softened Water The Path They Take After The Graduation Of High School Coating Of Precaution Network Support Sacramento Is Esources.co.uk Reliable-should You Use It? Endplay Ceo Keynotes Gilbane Boston With Discussion On "quantum Content"