John H. Skarbnik on Evolving Federal Gift Tax Computation, Basis, and Return Issues (PDF)
The American Tax Relief Act of 2012 established permanence in estate and gift tax laws for the first time since passage of the Economic Growth and Tax Reconciliation Act of 2001. Estate and gift tax unified credit dynamics and other factors have changed during this time period. However, fundamentals bearing on gift tax computation, basis rules, and filing requirements are timeless and always essential to effective estate and gift tax management.
John H. Skarbnik, LL.M., J.D., C.P.A. is Professor of Taxation, Fairleigh Dickinson University. Professor Skarbnik is admitted to the State Bars of New Jersey and New York. He is also a certified public accountant in New Jersey and tax counsel to the Law Firm of Walder, Hayden & Brogan, P.A., Roseland, New Jersey.
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