Stock Transactions between Insiders and Outsiders: How Much Disclosure is Required?

As closely held companies grow, their number of shareholders often increases as well.  This is frequently a sign of success, but it can create certain problems.  For example, a larger or diversified shareholder base can prevent a company from becoming an S Corporation for tax purposes.  Additionally, companies with too many shareholders who own small […]


Act Now! There’s Still Time to Avoid the New IRS Regulations That Might Raise Taxes on Your Family’s Inheritance

As I mentioned in my last post, the IRS recently released proposed regulations which effectively end valuation discounts that have been relied upon for over 20 years. If the IRS’s current timetable holds, these regulations may become final as early as January 1, 2017. Although that date isn’t set in stone, we expect that the […]


Goodbye Easy Estate Valuation Discounts

If you’ve been putting off making gifts of your closely held business interests, you may want to kick start that process. Yesterday, the Treasury department announced its proposed regulations to curb taxpayers’ ability to take significant fractional interest discounts when valuing gifts of closely held business interests for estate and gift tax purposes.  These proposed regulations are targeting, […]


Tax Alert: Partnership Audit Rules are Changing Part I

If you are a member of a partnership or LLC taxed as a partnership, you should take note of recent changes to the partnership audit rules. Last winter, Congress passed the Bipartisan Budget Act of 2015 (the “BBA”) which repealed the partnership audit and litigation rules under the Tax Equity and Fiscal Responsibility Act of […]


Tax Alert: Partnership Audit Rules are Changing Part II

Our last post talked about the changes that the Bipartisan Budget Act of 2015 (the “BBA”) made to the partnership audit rules.  As we mentioned, these rules affect all partnerships, including LLCs taxed as partnerships.  Luckily, Congress did include some relief for certain partnerships from the new rules. How can you opt out? A partnership […]



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