Time May Be Running Out on Valuation Discounts for Gifts to Family Members
Published on August 14, 2015 According to recent reports, the IRS is working on regulations that would, in effect, increase the value of interests in closely-held entities, such as partnerships and limited liability companies, that are transferred to family members for gift and estate tax purposes. Those entity interests currently are subject to discounts in value for minority ownership and lack of marketability. If the proposed regulations are enacted, those discounts will no longer be available for transfers to family