A new Section 2036(c), the antifreeze law, has been added to the Internal Revenue Code. This new law dramatically changes the tax consequences of many transactions intended to pass all or a portion of a family business on to the next generation. This article explores the mine field laid out by the anti-freeze law and charts a variety of safe passages.
Get full access to this article
View all access options for this article.
References
1.
Keydel, F. R.“The 1988 Version of IRC Section 2036(c)–‘Anti-Freeze’ Fantasy Overwhelms the Estate Tax.” Study Materials—Estate Planning for Family Enterprises Under I.R.C. $2036(c), as Amended. Philadelphia: American Law Institute, 1988.
2.
U.S. Bureau of National Affairs. Daily Tax Report, no. 222. November 17, 1988.
3.
U.S. Congress; House; Committee on Ways and Means. Report on H.R. 4333, Miscellaneous Revenue Act of 1988. Report 100–795, Washington, D.C.: Government Printing Office, 1988.
4.
U.S. Congress; Joint House and Senate Committee. Conference Report Explanation of H.R. 3545, 1987. Omnibus Budget Reconciliation Act of 1987. Washington, D.C.Government Printing Office, 1987.
5.
U.S. Congress. Statement of Managers. Conference Report on H.R. 4333, Technical and Miscellaneous Revenue Act of 1988. Washington, D.C.: Government Printing Office, 1988.
