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Posted on Wednesday, September 21, 2016 1:38 PM By Jeff Leieritz
On Aug. 5 the U.S. Department of the Treasury issued proposed regulations targeting the valuation practices of family-owned businesses. The proposed rules would lead to dramatically higher estate and gift taxes by eliminating the use of discounts currently permitted to reflect lack of control and marketability, respectively. The Wall Street Journal has referred to it as a "stealth death tax increase" that "rewrites long-standing interpretations of law."
Posted on Wednesday, June 26, 2013 12:59 PM By Kinsey Cooper
ABC, as part of the Family Business Estate Tax Coalition (FBETC), June 19 supported the Death Tax Repeal Act of 2013 (S. 1183/H.R. 2429) that would permanently repeal the estate tax.
Posted on Wednesday, November 21, 2012 9:43 AM By Jeff Leieritz
As part of the Family Business Estate Tax coalition (FBETC), ABC Nov. 15 sent a letter to members of Congress urging them to pass legislation addressing the estate tax before the end of the year. Barring congressional intervention, the resurgent estate tax rate and diminished exemption would saddle thousands of family-owned businesses with a crippling tax increase.