Appraisal and appraisal consulting requirements vary significantly from government agency to government agency. While the variances are often simple, the failure to meet the requirements can lead to a critical non-compliance. The noncompliance may be non-recoverable and often cost thousands of dollars but could cost tens to hundreds of thousands of dollars. Federal Appraisal offers expert appraisal and appraisal consulting services for many of the major government agencies.
The Internal Revenue Service (IRS) and the courts that hear its cases prescribe their own appraisal practices and procedures. While the appraisal theory behind IRS appraisals is mostly the same as any other appraisal, failure to comply with IRS specific procedures can result in the disqualification of an appraisal and a loss of essential support for a tax stance.
Federal Appraisal, LLC provides IRS appraisals for both taxpayers and the IRS.
Federal Appraisal, LLC provides numerous services to assist property owners in managing the various tax and audit issues that impact real and personal property.
See our IRS page, as well as our accountants page and our attorneys page.
The Federal Housing and Urban Development Agency (HUD) prescribes its own appraisal procedures and its own appraisal formats. While the appraisal theory behind the HUD appraisals is the same as any other appraisal, failure to comply with HUD’s own procedures and formats can result in the disqualification of an appraisal.
See our HUD page.
Property Tax Assessment and Appeals
There are numerous occasions where the value of a property is related to taxes. Each taxing situation requires special appraisal and consulting considerations. The considerations might be a specialized appraisal for cost segregation, depreciation, and income tax. Another might be an explanation and justification for a divergence from the purchase price basis for a transfer or gains tax calculation. Others pertain to tax position, basis, or feasibility, as with impairments, structured leases, barter agreements, gifts, and estates.
Each taxing situation requires appraisal and consulting experience in order to maximize taxing goals. Federal Appraisal, LLC specializes in providing appraisals for tax issues.
The General Services Administration of the federal government handles the real estate acquisition and leasing for most of the federal agencies. They have special biding, contracting, and reporting requirements. While the requirements are easy enough to meet, the mismanagement of the requirements could add substantial delays to a project.
SEC & Investor Relations
Federal Appraisal, LLC can provide any of the real estate appraisals and valuation reporting support required by the Securities and Exchange Commission (SEC). Whether its SEC reporting requirements to compliance with the appropriate accounting, tax, and audit reporting procedures, or it’s a special issue reporting requirement, Federal Appraisal, LLC can help.
Mark to Market
Federal Appraisal, LLC provides “Mark to Market” Appraisal Services as required by the Government Accounting Standards Board (“GASB”) new rule, Statement 52. The rule requires state and local government endowment funds that hold land and other real estate as investments to report the asset or liability at fair value beginning next year. When real estate is marked to market, for accounting purposes it is assigned the value that it would fetch in the open market. Currently, governments report such assets and liabilities at historical cost.
See our Mark to Market page.
See our Business Appraisal and Valuation and our Property Type pages for more
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