Appraisal Institute, ASFMRA and ASA Provide Comment to IRS on Appraisal Issues
In a comment letter dated January 17, 2007, the Appraisal Institute, American Society of Farm Managers and Rural Appraisers, and National Association of Independent Fee Appraisers raised several points of concern, as well as of support, to the Internal Revenue Service in response to its transitional guidance on appraisal requirements of noncash charitable contributions. The guidance, released in October 2006, attempts to implement the appraisal provisions enacted by Congress last year in the Pension Protection Act (H.R. 4).(for the full article from the Appraisal Institute, click here)