The firm’s original four partners were engaged primarily in a burgeoning real estate practice. While our real estate practice and deep-rooted involvement in that industry remains an integral component of the firm, we have grown alongside the dynamic needs of our clients and community at large. Today, the firm’s lawyers advise clients on almost every aspect of business: from copyrights and trademarks to high-stakes, high-profile litigation; from complex commercial and residential real estate issues to wealth management; from labor and employment law to healthcare; from capital raising and entity formation to corporate growth and expansion locally, nationally and internationally.
This proposed regulation was very unpopular among tax practitioners and its withdrawal is viewed as a positive change.
United StatesTax
As previously discussed (
here), the IRS and Treasury identified in July eight Obama era
tax regulations that are burdensome on taxpayers. In early
October, Treasury announced that it proposed to repeal or revise
these regulations. It has now taken its first concrete step
in doing so, by withdrawing the Section 2704 proposed regulations
released last year. These proposed regulations limited the
availability of the lack of liquidity discount when valuing
interests in family controlled corporations and partnerships for
estate, gift, and generation skipping tax purposes. This
proposed regulation was very unpopular among tax practitioners and
its withdrawal is viewed as a positive change.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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