Maine - Valuation Discounts: How Much? From Ninety Percent to Zero in Ninety Minutes - Elder Law Symposium 2007 (PRACPRO) For self-study credits to be granted, the material must be current within two years of the calendar year being reported.
Valuation Discounts, a key part of estate planning, have come under increasing fire in recent years. The most intense scrutiny, however, has been before you even get to the discounts. Chapter 14 of the Internal Revenue Code has provided rich fodder for the IRS in taxpayer examinations, and is often the only issue in valuation cases. Lose there, and the discount becomes a moot point. Further, the evidence "traditionally" provided for valuation discounts has also been subject to increasing scrutiny. This session will provide a review of cases that provide insight into the direction of the tax court, as well as the latest in evidence and documentation for support of discounts, when and if they are warranted. In addition, this session will briefly touch on the valuation of Subchapter S corporations, discussing why the tax court has continually over-valued them, and what it means for your clients.
For self-study credits to be granted, the material must be current within two years of the calendar year being reported.
Co-sponsored by the Maine State Bar Association and the Maine Trial Lawyers Association.
