EFTA02454307.pdf

From: Richard Kahn < Sent: Monday, August 8, 2016 5:27 PM To: Jeffrey Epstein Subject: Fwd: IRS Proposed Regulations Attack Valuation Discounts for Family Transfers — The Clock Is Now Ticking - August 8, 2016 Sent from my iPhone =br>Begin forwarded message: =rom: "Cozen O'Connor Publications" < >> Date: August 8, 2016 at 1=:54:57 AM EDT To: Subject: IRS Proposed Regulations=Attack Valuation Discounts for Family Transfers — The Clock Is Now T=cking - August 8, 2016 If you are having difficulty viewing t=is email, please use this link <https://sites- cozen.vuturevx.com/emailhandler.aspx?si==839a36a0-8f46-43fe-acc7-b35a96776e5f&redirect=https%3a%2f%2fsites- =ozen.vuturevx.com%2f46%2f1102%2faugust-2016%2firs-proposed-regulations-atta=k-valuation-discounts-for-family- transfers---the-clock-is-now-ticking.asp> . =/div> <https://sites-cozen.vuture=x.com/email_handler.aspx?sid=839a36a0-8f46-43fe-acc7- b35a96776e5f&red=rect=http%3a%2PA2fwww.facebook.com%2fCozenOConnor> <https://sites-cozen.vutur=vx.com/email_handler.aspx?sid=839a36a0-8f46-43fe-acc7- b35a96776e5f&re=irect=http%3a%21%21www.linkedin.com%2fcompany%2fcozen-o%27connor> <=td> About Careers Events Diversity <https://sites-cozen.vuturevx.com/email_handler.aspx?sid=839a36a0-=f46-43fe-acc7- b35a96776e5f&redirect=http%3a%2M2fwww.cozen.com%2fabou=%2fdiversity> Alumni Contact EFTA_R1_01555970 EFTA02454307 Blogs =div class="vx_block" id="blk_01" style="margin:0;padding:0;-webkit-te=t-size-adjust:none"> People <https://sites-cozen.vuturevx.com/e=ail_handler.aspx?sid=839a36a0-8f46-43fe-acc7- b35a96776e5f&redirect==ttp%3a%2M2fwww.cozen.com%2fpeople> Industr=es <https://sites-cozen.vuturevx.c=m/email_handler.aspx?sid=839a36a0-8f46-43fe-acc7- b35a96776e5f&redirec==http%3a%2f%21www.cozen.com%2findustries> Prac=ice Areas <https://sites-cozen.vuture=x.com/email_handler.aspx?sid=839a36a0-8f46-43fe-acc7- b35a96776e5f&red=rect=http%3a%2f%2fwww.cozen.com%2fpractices> Experie=ce <https://sites-cozen.vuturevx.c=m/email_handler.aspx?sid=839a36a0-8f46-43fe-acc7- b35a96776e5f&redirec==http%3a%2f%2fwww.cozen.com%2fexperience> Offices <https://sites-cozen.vuturevx.comPmail_handler.aspx?sid=839a36a0-8f46-43fe-acc7- b35a96776e5f&redirect==ttp%3a%21%21www.cozen.com%2foffices> <https://site=-cozen.vuturevx.com/email_handler.aspx?sid=839a36a0-8f46-43fe-acc7- b35a96=76e5f&redirect=http%3a%21:62fwww.cozen.com%2fnews-resources> IRS Propos=d Regulations Attack Valuation Discounts for Family Transfers — The=Clock Is Now Ticking The U.S. Department of the Treasury and the IRS have just is=ued anticipated proposed regulations that, if made final, would severely li=it the ability of taxpayers to transfer interests in family limited partner=hips and similar entities using valuation discounts. As an example, under existing law, parents could create a li=ited partnership, transfer to the partnership valuable assets and then tran=fer to their children limited partner interests. If, by reason of the partn=rship structure, these limited interests are illiquid and have no voting ri=hts, a qualified, independent appraiser would take these limitations and ot=er factors into account in rendering an opinion as to the value of the interests transferred, and might easily reflect a discount from the value of the=partnership's assets of 35 percent or more. The proposed regulations seek to eliminate what are perceive= as abuses in this area of wealth transfer. The regulations will not become effective until after they a=e made final, but this may occur as soon as December 1, 2016, the date on w=ich hearings have been scheduled. If you are considering the transfer of any interests in fami=y partnerships or other family business entities, you should consider actin= promptly, as valuation discounts may soon no longer be available or may be=severely curtailed. chttps://sites-cozen.vuturevx.com/email_ha=dler.aspx?sid=839a36a0-8f46-43fe-aca- b35a96776e5f&redirect=https%3=%2Wafwww.cozen.com%2fnews-resources%2fpublications%2f2016%2firs-proposed- r=gulations-attack-valuation-discounts-for-family-transfers> <https://site=-cozen.vuturevx.com/46/1102/_images/friedman-robert-i.jpg> 2 EFTA_R1_01555971 EFTA02454308 Forward to a colleague <https://sites-cozen.vuturevx.com/email_handler.aspx?sid=839a3=a0.8f46.43fe-acc7- b35a96776e5f&redirect=https%3a%2f%2fsites-cozen.vut=revx.com%2f5%2f6%2fform%2fforward.asp> I Update my subscriptions I =stablished in 1970 and ranked among the top 100 law firms in America, Coze= O'Connor has 600 attorneys who help clients manage risk and make better bu=iness decisions. Our lawyers counsel clients on their most sophisticated le=al matters in all areas of the law, including litigation, corporate, and re=ulatory law. We represent a broad array of leading global corporations and a=bitious middle market companies, and serve their needs through 24 offices a=ross two continents. =!--spacer--> © 2016 Cozen O'Connor. All rights reserved. =!--spacer--> =!--spacer--> <https:ficozen.vuturevx.com/email/839a36a0-8146-43=e-acc7-b35a96776e5f/analytics.gif> <http://pixel.monitorl.returnpath.net/pixel.gif?r=laf9a15ed7555=a042f744c61b0b111774abc9e0&i=324&s=839a36a0- 8f46-431e-acc7-b35a=6776e5f> 3 EFTA_R1_01555972 EFTA02454309