tag:blogger.com,1999:blog-6398232680738279469.post3960052427412332042..comments2024-03-12T07:30:17.846-07:00Comments on The Tax Times: Do You Have a FLP or LLC With Valuation Discounts? You Better Talk With Your Tax Advisor!Ronald A. Marini, Esq.http://www.blogger.com/profile/14304486100168506240noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-6398232680738279469.post-14224038595568968362016-09-23T06:53:31.744-07:002016-09-23T06:53:31.744-07:00Last week, Rep. James Sensenbrenner, R-Wis., intro...Last week, Rep. James Sensenbrenner, R-Wis., introduced H.R. 6042 to nullify the proposed regulations and any other substantially similar regulations that the IRS may float.<br /><br />“The IRS proposal is basically an attempt to sidestep congressional oversight,” Nicole Tieman, a representative for the congressman’s office, told Law360 in an email. “If new rules of this breadth are to be implemented, it should be done with congressional participation. … Further, this rulemaking is widely unknown to the very people the changes would affect — an indication that the process should be more transparent.”<br /><br />Experts say Sensenbrenner’s bill is remarkable in that it is unusual for Congress to try to curtail an agency’s specific rule-making power instead of addressing possible deficiencies in the underlying statute.<br />Ronald A. Marini, Esq.https://www.blogger.com/profile/14304486100168506240noreply@blogger.comtag:blogger.com,1999:blog-6398232680738279469.post-39023389641799032312016-09-19T14:11:40.357-07:002016-09-19T14:11:40.357-07:00Estate planners have used defined value and formul...Estate planners have used defined value and formula clauses for many years. Recent cases such as McCord and Wandry have provided guidance on how to use them and withstand IRS scrutiny. Planning before the proposed section 2704 regulations become effective is increasing workload for estate planners and appraisers. The flexibility of defined value and formula clauses can be an important tool in doing this planning.Ronald A. Marini, Esq.https://www.blogger.com/profile/14304486100168506240noreply@blogger.com