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dc.creatorLaw, R. Zebulon
dc.creatorMcNaughton, Shaun
dc.date.accessioned2018-05-03T15:03:28Z
dc.date.available2018-05-03T15:03:28Z
dc.date.issued2015
dc.identifier.citationR. Zebulon Law & Shaun McNaughton, Analysis: Why Section 2036 Does Not Work Effectively in Many Family Limited Partnership Audits and What Can be Done About It, 7 Est. Plan. & Cmty. Prop. L. J. 475 (2015).en_US
dc.identifier.urihttp://hdl.handle.net/2346/73633
dc.description.abstractFocuses on the family limited partnership (FLP) discounting technique used in discount estate planning, and describes how the authors have seen the Internal Revenue Service (IRS) apply section 2036 of the Internal Revenue Code (section 2036) in an audit to effectively negotiate, mitigate, or possibly eliminate the discount in an estate plan. In the typical FLP audit, the IRS applies section 2036 (as to the FLP) in a haphazard manner, and some audits involve extended document requests, which require time consuming and expensive responses. Argues that there are no substantially fair ground rules involved with a section 2036 audit. As a result, the FLP audit process is often costly and does not work effectively. Suggests several possible improvements to the estate tax audit process in cases involving FLPs. Additionally, points out the inherent dichotomy between sections 2036 and 2001(f) in many FLP cases, and encourages practitioners to fight against 2001(f) transgressions.en_US
dc.language.isoengen_US
dc.publisherTexas Tech Estate Planning & Community Property Journalen_US
dc.subjectFamily limited partnershipen_US
dc.subjectFLPen_US
dc.subjectPartnershipen_US
dc.subjectDiscounten_US
dc.subjectEstate planningen_US
dc.subjectAuditen_US
dc.subjectState taxesen_US
dc.subjectIRSen_US
dc.subjectIRCen_US
dc.subjectSection 2036en_US
dc.titleAnalysis: Why Section 2036 Does Not Work Effectively in Many Family Limited Partnership Audits and What Can be Done About Iten_US
dc.typeArticleen_US


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