Central Intelligence, June 2023

Stay informed on important court rulings and legislative updates that can impact our industry. Each month, this publication provides summaries on topics that can directly impact your business. This edition includes:

• Proposed regulations regarding Transfer for Value and Reportable Sale rules as they pertain to §1035 exchanges
• A buy-sell case where the company value was inflated by the death benefit received
• How complying with formalities and filing required tax returns in a timely fashion can help start the clock and limit the IRS on assessing tax, only if substantial compliance is followed