Norris McLaughlin & Marcus, P.A.

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Dec 05, 2016

Eyewitness Report: IRS Public Hearing On Section 2704 Proposed Regulations

On December 1, the Internal Revenue Service held a public hearing to allow individuals to present oral testimony on the proposed regulations regarding “Estate, Gift and Generation-Skipping Transfer Taxes; Restrictions on Liquidation of an Interest (REG-163113-02)” that were released on August 2, 2016.  The publication of these proposed regulations indicated that the IRS would potentially disallow the discounting of the value of family business interests for purposes of the federal transfer taxes. » Read More

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