You have until the end of the day today (November 2) to add to the almost 7,000 comments the IRS says it has received over the IRC Section 2704 proposed regulations. Designed to rein in valuation discounts for family-owned businesses and other entities for transfer tax purposes, the proposed regs have created a firestorm of protest.
New report: Proposed IRC Section 2704: Potential Impacts on Estate and Gift Valuations, A BVR Special Report is now available. The report sheds light on the proposed regulations and helps appraisers navigate the possible implications on the valuation of private-business entity interests for transfer tax (estate, gift, and generation-skipping) purposes. With your purchase of this special report, you will receive special news updates via email as events unfold. A public hearing is scheduled for Dec. 1, 2016, which will decide the fate of the proposed regs.
In the meantime, if you have not yet submitted comments, you can do so here. Voices still need to be heard!
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