IRS Proposes Rule to Update Estate Valuations

On August 4, 2016, the Internal Revenue Service (IRS) issued a proposed rule relating to the valuation of interests in corporations and partnerships for estate, gift, and generation-skipping transfer tax purposes and the treatment of lapsing rights and restrictions on liquidation in determining the value of transferred interests under Internal Revenue Code section 2704. The rule would affect how taxpayers estimate the fair market value of assets for estate and gift tax purposes.

Link to proposed rule: https://www.federalregister.gov/articles/2016/08/04/2016-18370/estate-gift-and-generation-skipping-transfer-taxes-restrictions-on-liquidation-of-an-interest

Comments are due November 2, 2016.

Advocacy contact: Dillon Taylor(link sends e-mail) at 202.401.9787.

Date: 
Thursday, August 4, 2016