As the Treasury Department reviews all the significant tax regulations issued on or after Jan. 1, farmers and ranchers are calling on the administration to withdraw proposed changes that would limit the use of discount valuation for estate tax purposes.
The proposed changes “would significantly endanger the future of family farms in America. They wrongly set forth more restrictive rules for using valuation discounts that would make it more difficult for our nation’s family-owned farms and ranches to survive intergenerational transfers,” AFBF President Zippy Duvall said in a letter to Treasury Secretary Steve Mnuchin and Agriculture Secretary Sonny Perdue.
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