Tax Wills, Trusts, & Estate Planning

Read need-to-know updates, commentary, and analysis on Tax issues written by leading professionals.
News & Analysis as of

Holding Assets in Trust for the Next Generation

Over the past few years, we have seen a dramatic increase in the number of clients interested in holding assets in trust for their children. This is a trend we are noticing across the board, regardless of the size of the...more

Proposed 2704 Regulations Attack Valuation Discounts

The IRS has expanded the scope of IRC Section 2704 by issuing proposed regulations that seek to limit the availability of valuation discounts for transfers of interests in family-controlled entities. In general, the purpose...more

Proposed Rules Would Limit Valuation Discounts for Family Controlled Entities

On August 2, 2016, the Internal Revenue Service proposed regulations that would severely limit valuation discounts for lack of marketability and lack of control that taxpayers have historically applied for federal gift,...more

IRS Proposes Rules That Would Dramatically Reduce Valuation Discounts in Family Business Succession Planning

Business Owners May Have Little Time to Act Before Rules Are Finalized - The valuation of a family member's interest in a family business has a major impact on the success or failure of a transfer of such interest to...more

Estate Tax Changes Past, Present and Future

I. INTRODUCTION - This outline is a selective and evolving review of the history of the modern federal estate tax. It originated during the attempts to repeal the estate tax in President Clinton’s second term and...more

IRS Proposes New Rules for Valuing Interests in Family-Owned Businesses

Earlier this month, the IRS issued long-awaited proposed regulations under Section 2704 of the Internal Revenue Code that, if adopted, will have a substantial impact on traditional estate planning techniques commonly utilized...more

IRS Proposes Regulations That Will Eliminate Most Valuation Discounts on Family-Owned Entities

On August 2, 2016, the IRS issued proposed regulations that would eliminate or limit the use of certain valuation discounts regularly applied when valuing interests in family-owned entities for gift and estate tax...more

Is Your Will Up to Date? - Trusts and Estates Update Volume 2016, Issue 1

Once again, a celebrity dies, and people are shocked that he died without a will. Just this past April, after the death of the well-known artist Prince, we learned that he did not have a will, and controversy is swirling...more

IRS Proposes New Regulations That Will Significantly Limit the Use of Valuation Discounts on Transfers of Interests in Closely...

The proposed regulations disregard restrictions that have been used by valuation experts and acknowledged by the courts to reduce valuations. If you are an owner of a closely held entity, recently proposed Treasury...more

Consider Your Options for Charitable Giving - Trusts and Estates Update Volume 2016, Issue 1

There are many charitable giving options that are available to fit a donor’s specific goals. You do not have to be Bill Gates or Warren Buffett to make a difference in the world now and after you are gone. Most of our...more

Proposed Section 2704 Regulations

On August 2, 2016, the Treasury Department released proposed regulations amending and expanding upon the current regulations to Internal Revenue Code Section 2704. The proposed regulations, if adopted, would affect the...more

New IRS Guidance Allows More People to Use Charitable Trusts

Have you heard? More people can now use charitable remainder annuity trusts thanks to new IRS guidance in the form of Revenue Procedure 2016-42, issued recently....more

IRS Issues Proposed Regulations Affecting Valuations of Family-Owned Companies

On August 2, 2016, the IRS released Proposed Regulations under section 2704 of the Internal Revenue Code of 1986 (“Code”). Those Proposed Regulations, which were published in the Federal Register August 4, 2016, make...more

Proposed IRS regulations will limit valuation discounts for family-held entities

On August 2, 2016, the Internal Revenue Service (IRS) released proposed regulations that, when finalized, will affect clients holding and transferring interests in family-controlled entities. Family limited partnerships...more

Proposed IRS Rules Endanger Business Valuation Discounts for Family-Owned Entities

Historically, the IRS has closely scrutinized transfers of interests in family-owned entities between family members. In particular, it has sought to curtail the use of discounts to decrease the estate and gift tax value of...more

Newly Released Proposed Regulations under Section 2704 Apply Broadly to Disallow Valuation Discounts for Transfer Tax Purposes,...

Overview - On August 4, 2016, the Treasury Department issued much anticipated proposed regulations under §2704 of the Internal Revenue Code, which, if finalized in their current form, will make very significant changes...more

Proposed Regulations May Substantially Reduce the Availability of Valuation Discounts for Interfamily Transfers of Business...

On August 2, 2016, the Treasury Department published Proposed Regulations to Chapter 14 of the Internal Revenue Code which, if adopted, may substantially reduce the availability of valuation discounts for inter-family...more

Pre-immigration and Non-U.S. Resident Planning

Foreign individuals who intend to permanently reside in the U.S., or do not intend to reside in the U.S. but intend to own U.S. property, need considerable legal and tax planning. The definition of “U.S. property” for...more

Proposed Regulations Would Curtail Most Valuation Discounts for Family-Owned Businesses – 2016 Planning Opportunity

Recently proposed Treasury Regulations (“Proposed Regulations”), if enacted as proposed, would curtail valuation discounts that currently reduce the value of certain business interests transferred during life or at death for...more

Important news for family-held businesses: IRS proposes imminent changes in family valuation discounts

On August 2, 2016, the Treasury Department issued Proposed Regulations to Section 2704 of the Internal Revenue Code. These proposed regulations are directed at family controlled entities (many of which hold operating...more

New Proposed Regulations Concerning Valuation Discounts

Proposed tax regulations issued on August 2, 2016 could eliminate or radically reduce the availability of valuation discounts in connection with the transfer of interests in closely held entities to family members. These new...more

Federally Proposed Rules to Increase Tax Cost of Family-Entity Transfers

The federal government proposed sweeping new tax rules earlier this month that would dramatically affect family businesses, investment partnerships and other entities.  These rules, which have been widely reported, would...more

Proposed Treasury Regulations To Affect Family Wealth Transfers

On August 2, 2016 the U.S. Treasury Department issued proposed regulations addressing transfers between family members of interests in family-controlled entities (e.g., corporations, partnerships and LLCs). If enacted, these...more

Treasury Department Issues Proposed Regulations on Valuation Discounts

On Aug. 2, 2016, the Treasury Department issued proposed regulations on valuation discounts. These proposed regulations make sweeping changes to the valuation rules for family-owned entities. If the proposed regulations...more

Practice Aid – A Redlined Version of the Proposed Section 2701 and 2704 Regulations

These proposed regulations are difficult enough in substance to deal with, without having to piece together the changes that they make to the existing regulations. Maybe there is a redlined version out there already, but I...more

1,673 Results
|
View per page
Page: of 67

Follow Tax Updates on:

JD Supra Readers' Choice 2016 Awards

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×