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Home / Opinion Digests / Taxation – Estate & Gift Tax – Limitations (access required)

Taxation – Estate & Gift Tax – Limitations (access required)

Where decedent relied on a 1984 7th Circuit decision to regard her 1984 gifts of $20,000 Atlanta Project Notes as not subject to gift tax, and after decedent died in 1985, the U.S. Supreme Court decided a case which undermined the 7th Circuit holding, but the IRS took no action to assert a gift tax ...