Uniform Standards of Professional Appraisal Practice (USPAP)are procedures, guidelines and ethical standards for appraisal, first codified in 1987 by the Appraisal Standards Board of the Appraisal Foundation, a federally funded organization authorized by Congress. USPAP is a regularly updated enforceable set of rules regulating the appraisal profession. These standards apply to all appraisal including personal property, real estate, and business valuation. They are based on the concept that there is a common methodology which can be found in all aspects of appraisal practice including appraisal, appraisal review and appraisal consultancy. Appraisers working for Thompson & Martinez maintain current certification with USPAP.
Estate Appraisal reports are prepared according to the guidelines in IRC section 20.2031-1(b) for reporting personal tangible property under Federal Estate Tax Return #706, Schedule F.
Charitable Contribution appraisal reports are prepared according to the guidelines in IRC Temporary Regulations Section 1.170A-1(c) (2) for reporting non-cash charitable contributions for values in excess of $5,000.