The Valuation Analyst's Role in U.S. Tax Court Trials

After the Internal Revenue Service makes a determination of deficiency against a taxpayer, the taxpayer's attorney may need to engage a valuation analyst as an expert witness to submit direct testimony to the U.S. Tax Court to support the taxpayer's valuation of a particular asset. The ana...

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Bibliographic Details
Published in:Trusts & Estates 2015-01, p.11
Main Author: Nicholls, Samuel S
Format: Article
Language:English
Subjects:
Attorneys
Court hearings & proceedings
Disputes
Evidence
Expert witness testimony
Federal court decisions
Financial services
Judges & magistrates
Litigation
State court decisions
Tax courts
Trials
Valuation
Witnesses
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Summary:After the Internal Revenue Service makes a determination of deficiency against a taxpayer, the taxpayer's attorney may need to engage a valuation analyst as an expert witness to submit direct testimony to the U.S. Tax Court to support the taxpayer's valuation of a particular asset. The analyst must be able to demonstrate oral and cognitive abilities during cross-examination, redirect examination and rebuttal testimony. To use the analyst to the best advantage, the attorney must be familiar with the rules and procedures courts use regarding the analyst's testimony. Here's an overview of what's required when presenting a valuation analyst's testimony in court.
ISSN:0041-3682