In September 2009 the IRS released a Job Aid for Valuation Professionals regarding the determination and application of discounts for lack of marketability. As this document and its questions of many DLOM studies and analysis techniques has gained prominence, many valuation analysts are left with many questions and few answers.

In "FMV Responds to the IRS DLOM Job Aid," FMV Restricted Stock Study creator and purveyor Lance Hall joins BVR for an in-depth, fast-paced, and entertaining examination and rebuttal of this Job Aid. This presentation will address how appraisers can counter IRS arguments and defend determinations based on the FMV Restricted Stock study and FMV's recommended Two-Step Approach. Further consideration will be given to academic studies involving restricted stock and the independent statistical support for the use of the company characteristics recommended by FMV.

Current subscribers to the FMV Restricted Stock Study are preregistered for this webinar and will automatically receive access information.

Click here for a free PDF of "Discount for Lack of Marketability Job Aid for IRS Valuation Professionals."

• What is Restricted Stock?
• Incorrect Use: The Benchmark Approach
• Academic Studies: Focus on Bajaj
• Determining the Discount
• Responding to the IRS

• Understand the response to the IRS's Criticism
• Understanding the data that comprises the FMV Restricted Stock Study
• Learn how to use restricted stock comparisons
• Learn how to determine the discount
• Understand how FMV successes have refuted claims by the IRS