Trusts & Estates
Economic Substance Doctrine: Consequences of Codification
Codification of the ESD will have a significant chilling effect upon those who seek to engage in aggressive planning. However, less aggressive practitioners are not out of the danger due to the Code’s ambiguity. It is unclear what, if any, normal commercial or investment transactions with tax benefits will come under ESD scrutiny. The strict liability penalties are further cause for practitioners considering ordinary business transactions to pay special attention to the ESD.
To learn more about the Economic Substance Doctrine and to access the article, please fill out the form below.
Topics
Complete the form to get your free guide
Related Resources
Loper Bright and the Demise of Chevron Deference: A Game Changer for Federal Agency Power?
On June 28, 2024, in the Loper Bright decision, the United States Supreme Court overturned the long-standing doctrine of Chevron deference. Read more now.
Learn More
WealthCounsel Quarterly, Volume 18, No. 4—Shining Some Light on the Sunset
Learn More
2024 Estate Planning Awareness Week - Free Marketing Package
Get free access to the 2024 Estate Planning Awareness Week marketing package with customizable blog content and letters so you can reach out to current and prospective clients, as well as referral sources, without having to spend hours creating original content from scratch.
Learn More