IRS Gift Taxation Appraisals
Our President A CEO, Jessica I. Marschall, CPA, ISA AM, is a practicing CPA of 21 years who also owns the tax consultation practice Marschall Accounting Service, LLC. She brings her expertise in reading, studying, and applying the intricacies of the Internal Revenue Code with exactness to Probity's appraisal practice.
The IRS requires an appraisal for substantiating the value of gifts reported on IRS form 709 United States Gift (and Generation-Skipping Transfer) Tax Return. At Probity, we ensure appraisals for gift tax purposes are produced following IRS code, USPAP, and applicable valuation methodology promulgated by personal property appraisal organizations.
Like charitable contributions and estate tax filings, the IRS has a specific definition for Fair Market Value when concluding gift tax value. We work closely with the client, their CPA, tax attorneys and gift recipients to ensure they understand the valuation definition. Our appraisals are always produced in a timely manner ensuring close communication throughout the appraisal process.