Proposed IRC Section 2704: Potential Impacts on Estate and Gift Valuations
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| Title: | Proposed IRC Section 2704: Potential Impacts on Estate and Gift Valuations |
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| Description: | The proposed IRC Section 2704 regulations, one of the most discussed valuation topics of the year, have triggered strong reactions from the business valuation and legal professions. The controversial proposed regulations are designed to eliminate or greatly reduce valuation discounts for family-owned entities for transfer tax (estate, gift, and generation-skipping) purposes. Many in the business valuation community feel that the proposed regulations introduce a new standard of value, with an unknown definition, that goes against years of accepted valuation theory and Tax Court precedent. With a possible effective date as early as 2017, now is the time to understand these potential changes and how to respond quickly. BVR's new special report, Proposed IRC Section 2704: Potential Impacts on Estate and Gift Valuations, sheds light on the proposed regulations and helps appraisers navigate the possible implications on the valuation of private business entity interests for transfer tax purposes. |
| Authors: | BVR Staff |
| Resource Type: | eBook. |
| Subjects: | Gifts--Valuation--United States, Gifts--Taxation--United States, Decedents' estates--Valuation--United States, Decedents' estates--Taxation--United States |
| Categories: | LAW / Legal Profession, LAW / Business & Financial, LAW / Taxation |
| Database: | eBook Collection (EBSCOhost) |
| Abstract: | The proposed IRC Section 2704 regulations, one of the most discussed valuation topics of the year, have triggered strong reactions from the business valuation and legal professions. The controversial proposed regulations are designed to eliminate or greatly reduce valuation discounts for family-owned entities for transfer tax (estate, gift, and generation-skipping) purposes. Many in the business valuation community feel that the proposed regulations introduce a new standard of value, with an unknown definition, that goes against years of accepted valuation theory and Tax Court precedent. With a possible effective date as early as 2017, now is the time to understand these potential changes and how to respond quickly. BVR's new special report, Proposed IRC Section 2704: Potential Impacts on Estate and Gift Valuations, sheds light on the proposed regulations and helps appraisers navigate the possible implications on the valuation of private business entity interests for transfer tax purposes. |
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| ISBN: | 9781621500797 9781621500865 |
