Add to ORKGOne result of the 1976 effort unifying the federal estate and gift tax was that adjusted taxable gifts after 1976 are taken into account in determining cumulative transfers at death. This is the mechanism by which use of any part or all of the unified estate and gift tax credit during life is taken into account at death. A major question that has been repeatedly litigated in recent years is whether IRS after death can revalue lifetime gifts falling within the category of adjusted taxable gifts. The predominant view emerging from the cases is that IRS may indeed revalue such gifts even though the period of time for challenging gift tax liability has expired
"Estate planning provides for orderly distribution of your assets during your lifetime and at death....
Decedent, when eighty years old and while still in good health, set up an irrevocable trust of one-t...
In order to avoid inclusion of the proceeds of life insurance policies in the gross estate for feder...
In general, public policy favors charitable giving. Charitable gifts during life are generally eligi...
Although the promise of a new income tax basis at death (and other factors) tend to discourage gift ...
In recent issues of the Digest,1 we have focused attention on the issue of major gifts prompted by p...
The federal gift tax was first enacted in 1924, approximately eight years after the adoption of the ...
Before the enactment of the 1924 gift tax statute, decedent created a trust for the benefit of named...
The controversy has been raging for months – is it wise for an individual with a $5 million estate (...
In 1948 the 80th Congress amended the Internal Revenue Code in an effort to eliminate the discrimina...
The problem arising when estate and inheritance taxes reach out and attempt to include transfers whi...
On May 14, 1919, decedent set up six trusts, appointing life estates with remainders over. Each trus...
On December 19, 1930 the petitioner created two trusts, placing in the first five $100,000 life insu...
Ordinarily when a donor lives for three years after the transfer, section 2035 (b) says the gift can...
A gift is generally defined as the voluntary transfer of property (including money) to another person...
"Estate planning provides for orderly distribution of your assets during your lifetime and at death....
Decedent, when eighty years old and while still in good health, set up an irrevocable trust of one-t...
In order to avoid inclusion of the proceeds of life insurance policies in the gross estate for feder...
In general, public policy favors charitable giving. Charitable gifts during life are generally eligi...
Although the promise of a new income tax basis at death (and other factors) tend to discourage gift ...
In recent issues of the Digest,1 we have focused attention on the issue of major gifts prompted by p...
The federal gift tax was first enacted in 1924, approximately eight years after the adoption of the ...
Before the enactment of the 1924 gift tax statute, decedent created a trust for the benefit of named...
The controversy has been raging for months – is it wise for an individual with a $5 million estate (...
In 1948 the 80th Congress amended the Internal Revenue Code in an effort to eliminate the discrimina...
The problem arising when estate and inheritance taxes reach out and attempt to include transfers whi...
On May 14, 1919, decedent set up six trusts, appointing life estates with remainders over. Each trus...
On December 19, 1930 the petitioner created two trusts, placing in the first five $100,000 life insu...
Ordinarily when a donor lives for three years after the transfer, section 2035 (b) says the gift can...
A gift is generally defined as the voluntary transfer of property (including money) to another person...
"Estate planning provides for orderly distribution of your assets during your lifetime and at death....
Decedent, when eighty years old and while still in good health, set up an irrevocable trust of one-t...
In order to avoid inclusion of the proceeds of life insurance policies in the gross estate for feder...