IRS Attacks Valuation Discounts

Recently proposed IRS changes to reduce or eliminate valuation discounts could dramatically increase the transfer tax cost of shifting property to members of your family in the future. The loss of valuation discounts is of significant concern for high-net-worth individuals for whom federal transfer taxes are an issue. It’s possible that some of the regulations could become effective as early as December of 2016, so it’s important to consult with your tax and legal advisors to evaluate your planning options.