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This article originally appeared on GOBankingRates.com: Get a Jump on Your Taxes With These Tips From the IRS for 2023. Show comments. Advertisement. Advertisement. In Other News. Entertainment.
Anticipating this problem, those drafting the regulations created a set of valuation standards for companies. The code provided a way for companies to achieve a safe-harbor valuation. A safe-harbor valuation is one where the IRS must accept the valuation as valid unless the IRS can demonstrate that the valuation is "grossly unreasonable".
“The IRS just said it wants $20B more money,” billionaire Elon Musk posted on X, before sharing a poll asking whether the agency should be "deleted" altogether.