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Valuation of family-owned entities for estate and gift tax purposes under Sec. 2704 Logo aicpa

  Donald T. Williamson, CPA, J.D., LL.M., and Cra... |   Free |   AICPA |   01 May 2017 |   Tax Adviser Magazine

This article describes the general rules of Sec. 2704 that disregard lapses or other restrictions of certain voting or liquidation rights in the context of measuring the value of gratuitous transfers of family-controlled entities where such lapses or restrictions are intended to impact the tax value of a transferred interest but not its ultimate economic value to a recipient family member. 

Topics covered:
  • Management accounting: Technical: Tax strategy, planning & compliance: Tax accounting, Intermediate
  • Forensic & valuation services: Technical: Tax valuation, Intermediate
  • Personal financial planning: Technical: Estate planning: Process, taxation & strategies, Intermediate
  • Tax: Technical: Taxation of estates & trusts: Estate tax, Intermediate
  • Tax: Technical: Taxation of estates & trusts: Gift tax, Intermediate