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Posts Tagged ‘Section 2704’

Section 2704 Proposed Regulations Withdrawn!

Trust and Estate Attorney Orlando
Published: October 19th, 2017

By: Brian M. Malec Matthew J. Ahearn

Last August, Dean Mead reported on the issuance of proposed regulations under Code section 2704 that would have significantly curtailed valuation discounts applicable to transfers of interests in closely-held family businesses for tax purposes.  These proposed regulations were seen as one of the most important developments in the estate planning community in recent memory, and […]

Long-Awaited Proposed Regulations for Section 2704 Issued!

Published: August 2nd, 2016

By: Dana M. Apfelbaum

Section 2704 of the Internal Revenue Code provides for special rules relating to the valuation of transfers of business interests to certain family members for estate, gift, and generation-skipping transfer tax purposes (collectively the “transfer taxes”).  Practically, § 2704 limits the ability to lower the value of a business interest as determined for transfer tax […]