Our last blog post discussed the potential repercussions from the new proposed IRS 2704 regulations, which could remove the proverbial icing off the cake for transfers in family-controlled entities. To put this in perspective, Mark Mazur, Treasury assistant secretary for tax policy, said in a statement that the proposed regs would eliminate a preference “that […]
Tag: Estate Tax Planning
Intra-family transfers…Is the icing on the cake gone for good?
When I was a kid, I always liked to eat the icing on the cake first – and probably most of you did as well. If the proposed IRS 2704 regulations are adopted in their current form, they will have the effect of virtually eliminating all the “icing on the cake” of a common estate […]