IMPORTANT SIGN-ON OPPORTUNITY: IRS Regulations

Dear NHLA Members and Industry Friends:

The Hardwood Federation is working with the National Association of Manufacturers (NAM) and the Family Business Estate Tax Coalition (FBETC) to deliver a joint sign-on letter (below) to Dept. of Treasury Secretary Jack Lew urging the withdrawal of new estate tax regulations recently released by Treasury. These proposed regulations would severely limit the ability of many business owners to pass their companies down from one generation to the next by restricting the use of minority valuation discounts for estate tax purposes. The Hardwood Federation fact sheet on this issue is attached HERE.

This letter is open to all family-owned businesses and corporations, businesses, industry and trade associations, state and local chambers and allied organizations. If you are interested in signing your family owned company onto the letter, please do so at the following link:

http://namissvr.nam.org/minisites/securesignup/letter.aspx?ID=113 <- COPY THIS LINK INTO YOUR BROWSER

Please also feel free to share this opportunity with your peers that have family owned business as well as other wood products associations you may be involved with. The Hardwood Federation is unable to sign on other organization and business so be aware that those interested must sign on themselves through the link above.

The deadline to sign on to the letter is Monday, September 26, 2016 by 5:00 EST.

This was a key issue for the 2016 Hardwood Federation Fly-In which concluded Thursday morning. The discussions were timely given that many members of Congress are unaware of these proposed regulations and the tremendously detrimental impact they will have on family owned businesses. The Federation hopes to have a tremendous representation from the wood products industry on this letter.

Thank you for your assistance on this very important issue.

Questions on the issue, should be directed to Dana Cole at dana.cole@hardwoodfederation.com.