Tax
Aug. 11, 2016
IRS rules may eliminate all valuation discounts
On Aug. 2, the Internal Revenue Service issued proposed regulations restricting valuation discounts in estate and gift tax planning. By Bruce Givner and Owen Kaye
On Aug. 2, the Internal Revenue Service issued proposed regulations restricting valuation discounts in estate and gift tax planning. The proposed rules are so broad that it may take a decade of litigation to determine if they are valid.
Let's start with an example. Assume Mom and Dad, ages 75 and 80, have an estate so large it will, without planning, be subject to the 40 percent estate tax. They own an apart...
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