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Evolving and Contradictory IRS Views on the Use of Restricted Stock Data

Business Valuation

 Evolving and Contradictory IRS Views on the Use of Restricted Stock Data
CPE Credit

Program Type: Recorded Webinar (Audio, PPT Presentation)
Program Level: Update
Prerequisites: Participants need a background in the subject area and desire to keep current.
Advanced Preparation: None
Delivery Method: Group Internet-Based
CPE Credits: Two (2) Hours
Fields of Study: Accounting (Governmental)
Item Number: 13PBV1211
Shipping Weight: 0lbs. 0oz.
Price: $110.00
Program Description

In this fast-paced and dynamic webinar, Lance Hall will examine the Internal Revenue Services's evolving views on using restricted stock data to determine the ubiquitous Discount for Lack of Marketability (DLOM), including the latest IRS challenge of a multi-billion dollar estate. Issues addressed will include Revenue Ruling 77-287, the IRS DLOM Job Aid, academic research, and the latest restricted stock data interpretations.

Restricted stock data continues to be used by the vast majority of valuation professionals to determine the DLOM. Moreover, most courts favor the use of restricted stock comparative analyses over other methodologies. Attendees will learn how to better use the restricted stock data to arrive at more accurate and defensible discount determinations. Moreover, attendees will learn how to use the IRS own data to support the use of The FMV Restricted Stock Study and defend the discounts determined.

Learning Objectives

After completing this webinar, attendees will be able to:

- Describe the most recent statistical analyses of The FMV Restricted Stock Study performed by the IRS and prove the validity of four of eight factors recommended by FMV for consideration
- Analyze and interpret the latest Restricted Stock Data (through 2012 year end) and what it tells us regarding discounts

Who Should Attend

Any practitioner who desires to stay on the leading edge of federal and state case law


Lance Hall, ASA
Mr. Lance Hall is Co-Founder and President of FMV Opinions, Inc. Mr. Hall also supervises the firm's New York office. A prolific author and expert witness, Mr. Hall is a highly sought-after speaker known for his exciting, dynamic, and informative presentations.

Mr. Hall is an Accredited Senior Appraiser of the American Society of Appraisers, and he earned his MBA from Brigham Young University. He also sits on the Editorial Advisory Board of Business Valuation Update and writes a regular column for Valuation Strategies magazine. His media interviews and appearances include Fox Business Live, Los Angeles Times, Forbes, The Wall Street Journal, Business Week, CNBC "Squawk on the Street," and Bloomberg Businessweek (online).