USPAP-Compliant · Personal Property · U.S. & Canada
U.S. citizens and green-card holders remain within the U.S. federal tax system wherever in the world they live. When a collection — handbags, watches, jewelry, fine art — meets a U.S. filing threshold, the rules governing who may value it travel with the filer: London, Dubai, Singapore, Hong Kong, Sydney, or anywhere else.
Jack Holowczak is a qualified appraiser under 26 CFR §1.170A-17, preparing USPAP-compliant appraisal reports for U.S. tax purposes on a fully remote, documentation-driven basis. Time zones are not a constraint; engagements are conducted asynchronously and in writing.
Common engagements include appraising a handbag, watch, or jewellery collection for a U.S. tax filing while living overseas.
The regulations define a qualified appraiser by education, experience, and adherence to professional appraisal standards — 26 CFR §1.170A-17 — not by the appraiser's location or the client's. Reports are prepared in accordance with USPAP and the applicable substantiation requirements.
Engagements are documentation-driven and conducted remotely; the scope of work and any assumptions are disclosed in the report in accordance with USPAP. Where counsel or a filing position requires physical examination, that is addressed by written agreement before the engagement begins.
Fair market value is developed from the relevant market for the property, and values for U.S. filings are reported in U.S. dollars. The physical location of the items does not prevent a remote, documentation-driven appraisal.
No. This page describes appraisal services only. Filing positions belong to you and your tax advisor or counsel; reports are prepared to support the values they report, and engagements routinely run alongside existing advisors.
Engagements are quoted by engagement letter based on scope of work, time, and complexity — the number of items, the state of documentation, and the intended use of the report. Fees are never contingent on appraised value.
U.S. persons who receive gifts or bequests from foreign persons above the reporting threshold (generally $100,000 in a year, aggregated) report them at fair market value on Form 3520. An appraisal documents the values reported; for inherited property it also supports the fair-market-value basis heirs generally take, while gifted property generally carries over the donor's basis. Whether a filing is required — and how basis applies in your case — is a question for your tax advisor.
Yes. The appraiser's declaration on Form 8283 is completed and signed by the appraiser as part of the engagement; neither the client's location nor the appraiser's is a barrier. Signed forms and reports are delivered electronically.