Thousands Ask Treasury To Kill Estate Transfer Proposal
Law360, New York (September 28, 2016, 7:22 PM EDT) -- More than 3,800 family-owned businesses and trade groups have called on U.S. Treasury Secretary Jacob Lew to withdraw controversial regulations that have been proposed to prevent the undervaluation of transferred interests for estate tax purposes, according to a statement Wednesday from the National Association of Manufacturers.
NAM released a letter with more than 50 pages of signatures urging Lew to pull the proposed regulations, which tax practitioners and estate planners have been quick to reprove for purportedly ignoring the economic realities of transferred interests in closely held businesses.
The regulations, which were announced in early August, will have a detrimental effect...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!