After a five-year effort, the American Society of Appraisers is taking credit for some of the provisions contained in the Pension Protection Act of 2006.
Signed into law in late August, the bill includes language that states only "qualified appraisers" will be eligible to submit appraisals for charitable gift tax purposes. Future appraisals will also be required to conform to the generally accepted appraisal standards for all professional appraisers.
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