Page 63 - Business Valuation for Estates & Gift Taxes

Appendix B

Common Acronyms Used in This Practice Aid

The following includes a list of the more commonly used acronyms in this practice aid:

 AICPA—American Institute of Certified Public Accountants

 DLOC—Discount for Lack of Control

 DLOM—Discount for Lack of Marketability

 FLP—Family Limited Partnership

 FMV—Fair Market Value

 FVS—AICPA’s Forensic and Valuation Services

 IRC—Internal Revenue Code

 PLR—Private Letter Ruling

 SSVS No. 1—Statement on Standards for Valuation Services No. 1, Valuation of a Business,
Business Ownership Interest, Security, or Intangible Asset

 TAM—Tax Advice Memorandum

 USC—United States Code

 VS section 100—New codification of SSVS No. 1 in Professional Standards

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