The Centre for Advanced Property Economics

The recognized research leader of advanced property economic studies in appraisal and real estate. The Centre for Advanced Property Economics pursues its vision and mission by cultivating research and partnerships with institutions throughout the world. These efforts provide the foundation for an improved understanding and cooperation among all property economics professionals.

REGISTER NOW FOR OUR WEB SEMINAR

PROMISES & PITFALLS:
The New Pension Act’s
Valuation Provisions and You

MONDAY, MAY 14 2007 | 2 p.m. Eastern Time; 11 a.m. Pacific Time
Click here to register.

Tax and valuation experts will lead a 90-minute, online discussion on how the tax-related appraisal provisions in the Pension Protection Act have changed the manner in which valuations required by the Internal Revenue Code must be performed, the qualifications required of those performing them and the penalties that can be imposed on appraisers and taxpayers for valuation misstatements.

This Web seminar, "Promises & Pitfalls: The New Pension Act’s Valuation Provisions and You" will be of interest to for-profit and non-profit taxpayers required to report the fair market value of tangible and intangible property; to tax practitioners who advise clients on Income, Estate and Gift tax issues relating to valuations; and, to individuals and firms providing valuation services for tax purposes.

The webcast will begin Monday, May 14 at 2 p.m. Eastern time (11:00 a.m. Pacific). Registration is $125 per person; the deadline to register is May 12, 2007.
Click here to register.

Signed into law last August, the Pension Protection Act (Public Law 109-280) includes provisions designed to address long-standing Congressional and public concerns over the reliability of tax-related appraisals, as well as the qualifications and independence of those performing valuations for Income, Estate and Gift tax purposes. The new law followed a series of oversight hearings by the Senate and House tax-writing committees that examined questionable valuations of certain categories of non-cash charitable contributions and the tax deductions taken by the donors. In tax year 2004, more than 24 million Individual tax returns claimed $43.3 billion in deductions for non-cash charitable contributions. Many provisions of the Tax Code require taxpayers to report the fair market value of tangible and intangible property for a wide variety of tax purposes.

Featured presenters include two IRS officials involved in managing the IRS’ valuation program, including reviewing taxpayer appraisals; a former chair of the Appraisal Standards Board of the Appraisal Foundation, and the director of governmental affairs for the Association of Art Museum Directors. Moderating the seminar will be Peter Barash, whose Washington, D.C.-based government relations firm specializes in valuation and financial services public policy issues.

The program’s speakers are:

Howard Lewis is the National Program Manager for the Valuation Program at the Internal Revenue Service. Lewis oversees most of the valuation fieldwork at the IRS. He implemented the first valuation standards in the history of the IRS and has been a long-time advocate for stronger standards for the valuation community.

Brenda K. Woolbert is an IRS valuation group team manager in Laguna Niguel, California, who oversees the Service’s Appraisal Issues Professional Responsibility Committee.

Anita Difanis is director of Government Affairs for the Association of Art Museum Directors (AAMD), an organization representing 180 art museums in the US, Canada and Mexico. A major area of interest to AAMD involves tax policies affecting donations of art to museums, including the quality of appraisals of art.

Carla Glass recently completed six years of service on the Appraisal Standards Board of the Appraisal Foundation, including one year as its chair. Currently, she is vice president and director of the Dallas office of American Appraisal Associates, where she regularly performs business valuations, as well as valuations of intangible assets.

For more information about this Web seminar and the Centre for Advanced Property Economics, contact Rick Guasco at The Alasko Company, rickguasco@mac.com.