Law360, New York (August 11, 2016, 5:38 PM EDT) -- The U.S. Department of the Treasury issued proposed regulations to Section 2704 of the Internal Revenue Code on Aug. 4, 2016, that will likely increase the value of intrafamily transfers of equity interests in a family-controlled business entity for gift, estate and generation-skipping transfer (GST) tax purposes, and also increase the number of valuation disputes between taxpayers and the government. The proposed regulations are controversial and, if adopted, could have a significant impact on the business succession plans of many family-controlled business entities. The Treasury Department requests written comments in response to the proposed regulations by Nov. 2, 2016. A public hearing will be held on Dec. 1, 2016....
Law360 is on it, so you are, too.
A Law360 subscription puts you at the center of fast-moving legal issues, trends and developments so you can act with speed and confidence. Over 200 articles are published daily across more than 60 topics, industries, practice areas and jurisdictions.
