Business Law
Hearing on the Proposed 2704 Regulations Leaves Open Questions
by Jeramie J. Fortenberry, JD, LLM (Taxation) | Executive Editor and Legal Education Faculty
On December 1, 2016, representatives of the Treasury and the Internal Revenue Service (IRS) held
a hearing to discuss the proposed regulations on valuation discounts for family-owned businesses
under Internal Revenue Code (Code) § 2704 (Proposed Regulations). The Proposed Regulations were
released on August 2, 2016. This article summarizes that hearing in light of the Proposed Regulations
and concludes with a few practical takeaways.
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