FBC submits comments to protect family businesses and farms from IRS overreach
Last Friday, after reviewing all 105 final, temporary, and proposed Treasury regulations issued from January 2016 through April 2017, the Treasury Department identified eight burdensome regulations for which it will propose reforms as required by President Trump’s April 25th Executive Order 13789. One of the regulations addressed by the review were the proposed Section 2704 Estate, Gift, and Generation-skipping Transfer Taxes changes initiated by former Treasury Secretary Jack Lew. The move drew backlash from small business and advocates nationwide. This regulation would increase the number of family businesses and farms subject to the federal…continue reading →
