Tax compliance for clients with art collections requires appraisals that meet specific regulatory standards. Whether the engagement involves estate tax filing, charitable contribution documentation, or gift tax reporting, the IRS imposes defined requirements on both the appraisal and the appraiser — and the consequences of deficient valuations can include disallowance of deductions, penalties for valuation misstatements, and unwelcome examination.

We prepare qualified appraisals for the tax matters your clients encounter most frequently. Estate valuations reported on Form 706, structured to meet Treasury Regulation §20.2031-6 documentation requirements. Gift tax appraisals for Form 709 filings, addressing the specific complexities of intergenerational art transfers. Charitable contribution valuations for Form 8283, navigating the timing requirements, threshold-specific documentation standards, and related-use considerations that determine deductibility.

For donations exceeding $50,000, where IRS Art Advisory Panel review is likely, our reports are prepared with that scrutiny in mind. The methodology is documented, the comparable data is verifiable, and the conclusions are supported by the analysis presented. We coordinate closely with your team throughout the appraisal process. Early engagement is valuable — particularly for charitable contributions, where the 60-day timing window and contemporaneous acknowledgment requirements create sequencing considerations that benefit from advance planning. For estate matters, coordination with counsel is often essential when valuations may be subject to IRS challenge or when planning strategies depend on specific valuation outcomes.

We also work with auditors reviewing art fund quarterly valuations, where independent assessment of NAV calculations is required, and provide appraisal review services when you need to evaluate the adequacy of an existing appraisal before relying on it for filing purposes.
Our reports are prepared to withstand examination. If questions arise, we stand behind our work.

To discuss an engagement, contact us directly.