The ‘Paper of Record’ Weighs in on Discounting

Our colleague Jessica Timmerman wrote about this issue of changes for “discounts” in FLPs and other family partnership vehicles recently… and now the old Gray Lady has weighed in as well.   The Times nicely encapsulates the issues that have been floating around for a while – namely that the IRS does not appreciate losing out on tax revenue based on these discounts.

I’ll forgo a deep dive on the subject – Jessica and the NYT have both covered it nicely – but suffice it to say if you or a client is contemplating a similar discounting structure time may be of the essence.

 

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