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  • A Bi-Monthly Electronic Publication for Section Members
  • June 2010

Group and Committee News

Business Planning Group


In February, the Business Planning Group represented the RPTE Section before the Internal Revenue Service Office of Servicewide Penalties to talk about the IRC Section 6695A, Penalty for the Substantial and Gross Valuation Misstatements Attributable to Incorrect Appraisals. As a result of the RPTE presentation, alongside 7 national appraisal organizations, the IRS is reviewing requested improvements relating to field examiner procedures for implementing IRC Section 6695A.

The Business Planning Group presented a half day program at the Spring Symposia in Philadelphia, titled “The Lifecycle of a Family Business Owner—Birth, Midlife Crisis, Death and Beyond!” The Group is currently planning a full day of CLE programming at the Joint Fall CLE meeting in Toronto, in conjunction with the Closely Held Business and S Corporations Committees from the Tax Section. Tentative programs include “Estate Planning with S Corporations” and “Issues and Strategy in Shutting Down a Business with Tax and Non-Tax Debts”.

Additionally, the Business Planning Group has continued its popular teleconferences on the first Wednesday of every month. Recent calls featured discussions on the use of beneficiary defective grantor trusts and recent family limited partnership cases from a valuation perspective. Please consider joining the Group to help plan upcoming calls and CLE programs!