Current IRS rules permit tax discounts on the valuation of interests in family-held assets passed down among generations. The Treasury Department has proposed new rules that do away with these discounts. As a result, the estates of the owners of family-held businesses such as farms, real estate and investment firms will be required to pay higher estate taxes. The new rules, which are not yet in final form, are expected to take effect some time next year.
Robert Flow
Robert Flow is a legal writer and content marketer who investigates leads and tracks down interesting stories.
