Rejoicing Over Reduced Regs


Richard Dees praised the Treasury Department decision to revoke proposed Section 2704 regulations which addressed the valuation of interests in family-controlled entities. “In my view, Section 2704 ought to be repealed,” Mr. Dees said. “Most of the chapter [in the code] was subject to congressional scrutiny, but Section 2704 was dropped in at the last minute without any opportunity for debate. It was flawed from the beginning.”