Valuation discounts: what could the IRS’ new proposal mean for families?

Publisher: Private Asset Management Magazine

October 6, 2016

Darren Wallace and Ed Krzanowski were quoted in an article, "Valuation discounts: what could the IRS’ new proposal mean for families?" in Private Asset Management Magazine. In the article, Wallace and Krzanowski discuss the recently issued proposed regulations under Internal Revenue Code Section 2704 that, if finalized, would curtail or eliminate valuation discounts for gift and estate tax purposes. These regulations would affect the gift and estate tax value of family-owned business entities, including both active businesses and family investment vehicles such as family limited partnerships (FLPs) and limited liability companies (LLCs). For individuals who have an interest in a family-owned business entity and an estate that could be subject to federal or state estate tax (and thus affected by no longer being able to value those interests based on fractional-interest or other discounts), these regulations could have a major impact on them.

June 24, 2020

Day Pitney Alert

New Laws with Major Impact on Employers Operating in New Jersey Taking Effect: What You Need to Know to Comply

On April 24, Francine Esposito and Laura Schuman delivered a Business & Legal Resources (BLR)'s webinar entitled "New Laws with Major Impact on Employers Operating in New Jersey Taking Effect: What You Need to Know to Comply."

April 2020

BLR Webinar

Relief for Banks in the COVID-19 CARES Act

March 27, 2020

Day Pitney Alert

COVID-19 Temporary Relief: New York-Regulated Banks Required to Grant 90-Day Forbearances for Some Borrowers

March 25, 2020

Day Pitney Alert

Five Tips for Lenders to Manage the Impact of COVID-19

March 19, 2020

Day Pitney Alert

Lakeland Bancorp to Acquire 1st Constitution

July 12, 2021

1st Constitution Bancorp and Lakeland Bancorp, Inc. entered into a definitive agreement and plan of merger under which Lakeland will acquire 1st Constitution in a transaction valued at about $244 million, the banks announced July 12.

Are You Expecting PPP Loan Forgiveness? Don’t Forget This Step

May 28, 2020

Day Pitney advisory, "You Have the COVID-19 PPP Loan – Know the Rules to Maximize Forgiveness," authored by Susan R. Huntington, Richard D. Harris and Michael J. Dune, was mentioned in Forbes article "Are You Expecting PPP Loan Forgiveness? Don't Forget This Step."

Day Pitney Promotes Five New Partners

January 2, 2020

Day Pitney Press Release

Day Pitney Represents Valley National Bancorp in its Proposed Acquisition of Oritani Financial Corp.

June 26, 2019

Day Pitney Press Release

Day Pitney Represents 1st Constitution Bancorp in its Acquisition of Shore Community Bank

June 24, 2019

Day Pitney LLP represented 1st Constitution Bancorp in connection with its merger agreement with Shore Community Bank, pursuant to which 1st Constitution will acquire Shore in a stock and cash transaction valued at $16.54 per share, or approximately $53.1 million in total consideration.