Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

What is a Valuation Dispute?

By Kevin Thorn Subscribe to RSS | December 1st 2011 | Views:

Many of the disputes between the IRS and a taxpayer are the results of simple disagreements—the 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 taxpayer’s 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.

That’s where a lawyer comes in. When the IRS challenges the taxpayer’s 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 it’s 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 they’ve 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.

Kevin Thorn - About Author:
Kevin E. Thorn is an experienced tax attorney and founder of Thorn Law Group. His client roster includes individuals, tax professionals, partnerships, trusts, banks, closely-held businesses, accounting firms, law firms, and corporations. Clients from New Jersey, New York, Pennsylvania and throughout the United States and abroad trust Mr. Thorn for his legal acumen and his no-nonsense approach to tax practice. His expertise is sought after in all stages of civil and criminal tax disputes including international tax law, offshore bank accounts and voluntary disclosures, civil examinations, criminal investigations, IRS administrative appeals, collection alternatives, ethics investigations, and other types of complex civil litigation.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:

Related Business Articles Subscribe to RSS

Finding an attorney Tyler, TX
Published by Evans Baliol on November 25th 2011 | Business
The economy is in rough shape, there are no two ways about it. There are people who are doing their ...
Apply for the disability benefits successfully with the help of an attorney
Published by Safinajones on February 29th 2012 | Business
There are a number of disability benefits schemes available with the federal government. Here is a u...
What You Need in a divorce attorney, Northfield, NJ
Published by on November 28th 2011 | Business
When looking for a divorce attorney, Northfield, NJ is a competitive market. There are a lot of lawy...
Personal injury attorney Nebraska will always get you a fair compensation
Published by Mchenry1 on May 24th 2012 | Business
An injury you get while an accident is something might take time to heal & also consume lot of your ...
Hire Zadroga attorney to get Zadroga claim
Published by Carl Schmidt on December 22nd 2011 | Business
In order to get your Zadroga claim in a systematic and hassle-free manner, it is best to engage the ...
DUI attorney NY- Handle the delicacy of your case
Published by Paxton on January 3rd 2012 | Business
DUI attorney NY because they are well-aware of all the driving under influence laws in New York. The...
Personal injury attorney Nebraska services
Published by Mchenry1 on June 13th 2012 | Business
Being offended could be an extremely worrying thing to carry on with, particularly if you endeavor t...
DWI attorney New York-justifies your stand in law suit
Published by Paxton on January 18th 2012 | Business
The levied charges are based on how much alcohol is consumed and how impaired that person appears to...
Get equitable monetary benefits with the help of Zadroga attorney
Published by Jennifer Weinstein on January 8th 2012 | Business
The Zadroga attorney would fight the victim’s case on his behalf thereby getting well deserved com...
Why do you hire a patent attorney?
Published by Adli Law on April 5th 2012 | Business
If you have realized the imperativeness of the patent attorney, have one of them in your side in ord...
Protecting Your Assets with a divorce attorney, Northfield, NJ
Published by on November 25th 2011 | Business
When going through a divorce, we always hope that we can end things peacefully, and that our former ...
Take help from the attorney in order to claim the benefits
Published by Safinajones on December 22nd 2011 | Business
You must know and understand the importance of the disability benefits and how to claim the benefits...
Hire the best personal injury attorney to get your compensation.
Published by Danny Kaye on May 11th 2012 | Business
When you met with any kind of harm because of others fault the first thing which you should do is th...
Know more about social security disability benefits from a social security attorney
Published by Safinajones on January 12th 2012 | Business
Before claiming for social security disability benefits, you need to understand the rules and regula...
What Makes a Good attorney Wall, NJ?
Published by Aidan Margas on November 25th 2011 | Business
When searching for an attorney Wall, NJ has plenty to offer, so why hire Anthony J Cafaro, Jr., or a...
What Comes First for Your divorce attorney, Northfield, NJ
Published by on November 28th 2011 | Business
When going through a divorce, the first thing you need to do is contact a divorce attorney, Northfie...
3 Myths About attorney Tyler, TX offices
Published by Evans Baliol on November 25th 2011 | Business
The humble bankruptcy attorney Tyler, TX gets perhaps more bad press than just about anybody....
Take the help of a social security attorney to apply for social security disability benefits
Published by Safinajones on January 6th 2012 | Business
Social security disability benefits is a scheme that is designed to help individuals with disabiliti...
Zadroga attorney enable to get better medical aid and healthy lifestyle
Published by Jennifer Weinstein on January 6th 2012 | Business
Zadroga attorney assist the victims of 9/11 terror attack, to get well deserved reimbursement for be...
Family law attorney Nebraska: Suggest & defend your judicial rights
Published by Mchenry1 on December 30th 2011 | Business
A family law attorney of Nebraska is a lawyer who addresses legal matters relating to families for e...