Estate and Gift Tax Reporting

Empire’s Gift and Estate tax specialists have broad experience in the preparation of business appraisals in this important segment of our valuation practice. With over twenty years of experience working with estate planning professionals and the Internal Revenue Service, Empire has developed a unique understanding of the regulatory environment facing taxpayers and the issues involved in valuing their closely held business interests.

Empire’s professionals are able to work with clients through all phases of the valuation process, including potential audit and U.S. Tax Court proceedings. Empire professionals work with a client’s attorneys, accountants, and estate planning professionals to achieve reasonable levels of success in this unpredictable arena.

Empire has also worked directly for the Internal Revenue Service on valuation matters, and has served as an expert witness on behalf of both taxpayers and the Internal Revenue Service in actions involving U.S. Tax Court. Further, our professionals are well versed in U.S. Tax Court decisions concerning minority interest and lack of marketability discounts, Subchapter S Corporation issues, and built-in gain tax liability issues, to name a few.

Our valuation engagements for estate and gift tax reporting have included a wide variety of business interests and financial assets, including, but not limited to:

• Common and preferred stock, debt instruments, and derivative securities of closely held operating and holding companies;

• Limited and general partnership interests;

• Managing and non-managing interests in limited liability companies;

• Blocks of common stock and non-traded derivative securities of publicly held companies;

• Carried and other equity interests with unique return characteristics; and

• Intellectual property, including trademarks and trade names, literary and film rights, patents, and licensing agreements.

Our gift and estate clients extend from small partnerships, to mid-size corporations, to multi-billion dollar estates, to some of the largest private companies in the country

Empire’s principals are frequently featured speakers and panel members at a variety of local, state, and national estate planning conferences. Also, William Lockwood, authored the “Valuation” chapter of a four-volume treatise titled Estate and Personal Financial Planning, by Edward Koren (West 1988-03). Empire professionals have written articles on various valuation topics published in industry and tax magazines and newsletters.

Please contact any of Empire’s Managing Directors for your estate and gift tax valuation needs.

Download Empire's Estate and Gift Brochure

Empire has completed in excess of 500 valuations annually for gift and estate tax reporting purposes.

Bill Lockwood

Senior Managing Director