Proposed Regs Would Affect Valuation of Transfers of Family-owned Business Among Family Members

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Recently, my colleagues Micah Miller, Jennifer Jordan McCall, Kim Schoknecht and Elizabeth Fry published an alert titled Proposed Section 2704 Regulations that discusses proposed regulations that, if adopted, would affect the valuation of family-owned businesses interests transferred among family members by eliminating certain discounts currently recognized under the law. The U.S. Treasury Department released the proposed regulations on August 2, 2016. They will be subject to public comment for the next 90 days and a public hearing will be held on December 1, 2016.