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Buy-sell agreements can provide an effective means of valuing close corporations for estate tax purposes, but the IRS does examine such agreements to ensure that they are not being used as estate planning vehicles. Under IRC section 2703, buy-sell agreements must have a bona fide business purpose, must not demonstrate testamentary intent and must include valuations comparable to arm's-length transactions. Such agreements should be drafted to be binding on the shareholder and the estate and should compel sale of the interest regardless of IRS approval of the valuation.

Divorce-related financial statements may now be validated using the tax returns of either party. The disclosure of assets is an important part of divorce settlements negotiations, and may be subtantially facilitated by a review of a variety of tax returns, depending upon a spouse's sources of income. Both business and individual returns for the previous two years are valuable sources of information on salaries, interest income, dividends, tax refunds, capital gains or losses, pensions and deductions. Copies of returns over a period of several years should be obtained in order to study fluctuations in specific items. Requests for copies of tax returns may be made by filing IRS Form 4506. Joint returns may be obtained even without a spouse's consent as long as the requesting party's signature is on the return. Otherwise, the release of separately filed returns must be authorized by the filer.