Tax Court Holds Assumption of Estate Tax Liability May Reduce Value of Gift

The Tax Court denied an IRS motion for summary judgment in an estate and gift tax case where the taxpayer made gifts to her daughters while requiring them to pay any tax liability that would have been due if the taxpayer had died within three years of making the gifts.

Source: http://feedproxy.google.com/~r/AICPA_Tax/~3/KAwgfcWjtYw/20131002.aspx

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