- federal gift tax
- A federal tax imposed on assets conveyed as gifts to individuals. Bloomberg Financial Dictionary
Financial and business terms. 2012.
federal gift tax
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Gift tax in the United States — A gift tax is a tax imposed on the gratuitous transfer of ownership of property.The tax is generally imposed on the donor (the giver) rather than on the recipient. A transfer is completely gratuitous where the donor receives nothing of value in… … Wikipedia
gift tax — A tax assessed on the giver of a property or asset as a gift. A $10,000 federal gift tax exemption exists per recipient. Bloomberg Financial Dictionary See: gift splitting. Bloomberg Financial Dictionary * * * gift tax gift tax ➔ tax1 * * * gift… … Financial and business terms
gift tax — n: an excise tax imposed on a donor for gifts of property made during the donor s lifetime see also annual exclusion, gift 3 split gift at gift, unified t … Law dictionary
Gift Tax Return — A federal tax form that must be filled out by any individual who gives a gift that exceeds the annual or lifetime exempt gift amount established by the IRS. For example, if the annual gift tax exemption is $13,000 per recipient, anyone who gives… … Investment dictionary
Gift Tax — A federal tax applied to an individual giving anything of value to another person. For something to be considered a gift, the receiving party cannot pay the giver full value for the gift, but may pay an amount less than its full value. It is the… … Investment dictionary
gift tax — noun a tax imposed on transfers of property by gift during the lifetime of the giver • Hypernyms: ↑tax, ↑taxation, ↑revenue enhancement * * * noun : a tax that is imposed by the federal government and a number of states in the United States… … Useful english dictionary
gift tax — A US federal tax on property given away, levied on the donor … Big dictionary of business and management
gift in contemplation of death — n. A gift that is promised to someone by a donor who expects to die soon that will take effect if the donor does die as expected, but for which the donor retains the title while he or she is still living, and that becomes invalid if the donor… … Law dictionary
gift — n 1: an intentional and gratuitous transfer of real or personal property by a donor with legal capacity who actually or constructively delivers the property to the donee with the intent of giving up dominion over the property and investing it in… … Law dictionary
Uniformity and jurisdiction in U.S. federal court tax decisions — refers to an ongoing debate spanning many decades about achievement of uniformity and high quality decisions by federal courts when addressing tax controversies against the backdrop of multiple, regionally diverse courts with federal tax… … Wikipedia
