Expert commentary on US Treasury's latest response to an Executive Order affecting its proposed Section 2704 regulations

WASHINGTON, Oct. 9, 2017 /PRNewswire-USNewswire/ -- Ronald Aucutt, an expert in the trust and estate practice and a Fellow of ACTEC, offers his in-depth analysis regarding pending tax reform in this latest addition of Capital Letters. Capital Letters offers unique insights into the legislative process behind estate tax reform and related transfer tax deliberations of the United States Congress and administrative developments at the Treasury and IRS.

Mr. Aucutt's Capital Letters No. 42 notes:  

In a second Report in response to Executive Order 13789, the Treasury Department and the Internal Revenue Service have announced that they will withdraw the controversial Proposed Regulations about disregarded restrictions and lapsing rights under section 2704.  The Report says nothing about revisions, further study, or any other additional consideration of these Proposed Regulations.  There are lessons to be learned, but some implications of Treasury's Report are still uncertain.  Reports of the death of the Proposed Regulations may now have been confirmed, or may still be premature.

"I recognize how difficult it may be to understand the impacts of the Executive Order and the proposed regulations, and I wrote the article to provide some examples of how they fit in a drama that we have all been watching closely for a little over a year.  I also wanted to make sure we retain some balance in thinking about these issues.  The proposed regulations were not necessarily going to be as oppressive as some people have thought." stated Ronald Aucutt.

To read the full article, visit: actec.org/resources/capital-letter-no-42. Ronald Aucutt is a Fellow of The American College of Trust and Estate Counsel and is a partner in McGuireWoods LLP. Capital Letters No. 1 through No. 42 are available on ACTEC's website and offer insight into other tax related issues.

About the American College of Trust and Estate Counsel (ACTEC):  The American College of Trust and Estate Counsel, ACTEC, is a national organization of approximately 2,500 lawyers elected to membership by demonstrating the highest level of integrity, commitment to the profession, competence and experience as trust and estate counselors. Our members, "Fellows," are the best and brightest in the trust and estate practice, with decades of experience representing and advising families. 

Suzy Shaw, Communications and Marketing Director
American College of Trust and Estate Counsel
443.540.9928
[email protected]

SOURCE American College of Trust and Estate Counsel

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