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Jan 1, 2010 12:00 PM
Discounts Under Siege
The IRS figuratively issued a wanted poster in 2009, ‘Wanted: Discounts Dead or Alive.’ Joining in the hunt were Congress, the Obama administration, and the Tax Court
The year 2009 was less than two weeks old when Congressman Earl Pomeroy (D-N.D.) introduced a bill
The Pomeroy bill foreshadowed where the action would be in the courtroom in 2009, as critical cases focused on family limited partnerships (FLPs) and limited liability companies (LLCs). The Internal Revenue Service concentrated its efforts on those cases where the battleground was over conditions precedent — if the IRS was successful in its argument, a court could preclude any consideration of discounts or diminish their magnitude.
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| Private Foundations | Life Insurance |
| 2010 Tax Act News | Industry Trends Surveys |
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