On October 2, 2017, Treasury Secretary Steven Mnuchin issued a report recommending, among other changes, the complete withdrawal of proposed regulations under Section 2704 of the Internal Revenue Code. The proposed regulations had caused significant concern amongst owners of closely held businesses and their advisors since being released in August of 2016. Business owners, advisors and members of the business valuation community flooded the IRS with comments and appeared at a public hearing to indicate that the proposed regulations were overreaching, created far too many hypothetical and unrealistic circumstances, and would lead to unintended consequences, including overvaluation in cases where discounts for lack of control and lack of marketability were warranted.
MPI, a prestigious national consulting firm founded in 1939 specializing in business valuation, litigation support and corporate advisory work, has opened a Philadelphia office to serve as national headquarters for its new forensic accounting and economic damages practice. MPI’s Philadelphia office will also support its growing Pennsylvania client base, as well as its traditional business valuation and litigation support services.
Late this summer MPI partnered with Habitat for Humanity of Burlington County and Greater Trenton-Princeton to build homes in our local community. We appreciated the opportunity to give back and look forward to finding new ways to serve the communities in which we live and work!
MPI Expands Commercial Damage Litigation and Forensic Accounting Services MPI continues its expansion of client services into complex commercial damages and forensic accounting projects with the hiring of James T. O’Brien, CPA/CFF. Mr. O’Brien brings almost 30 years of experience providing clients with expert witness services. Mr. O’Brien has focused his practice on providing damage calculations in complex commercial litigation and forensic accounting investigations. In addition, Mr. O’Brien frequently assists clients in documenting insurance claims such as flood, fire, or theft losses that impact business operations.