A subscriber recently asked for information on minority and marketability discounts relating to Family Limited Partnerships (FLPs)—specifically, what the IRS had approved in recent cases, and we were happy to point him to sources by Mel Abraham (www.flpvaluation.com), including his most recent e-alert. “In this issue we provide a newly issued document related to FLP valuations, setup, gifting and other issues, all of which can impact a valuation,” Abraham says. To read the IRS Settlement Guidelines on Family Limited Partnerships and Family Limited Liability Corporations, which addresses, among others, the key issue of whether the taxpayer has made an indirect gift of the underlying assets, go to www.valuationeducation.com/tips.html, and then follow the links to the current issue.
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