Today was the formal deadline for submission of comments on the proposed new Internal Revenue Service regulations curbing valuation discounts currently in place. We hope many of you submitted comments as the proposed change can be devastating to your estate plans, but know that through the Coalition of Franchisee Associations, we’ve got the issue covered. CFA Vice Chairman and multi-unit Dunkin’ franchisee Rob Branca submitted this testimony last month arguing strongly against the proposed change as this Bloomberg articles states. The changes, which will dramatically increase your potential estate tax liability, will be the subject of a formal hearing on December 1. How the issue evolves from this point remains to be seen – the Obama administration is intent on “fundamentally transforming the United States of America” and seems to be doing it through regulations and executive orders. Democratic nominee Hillary Clinton has proposed reducing the individual exemption (now $5.45 million) to $3.5 million and raising the current 40% tax rate to 45%, while Republican nominee Donald Trump has proposed eliminating the estate tax entirely!