Gift tax can apply when you give money or other assets to someone else. As the gift-giver, you're responsible for paying any tax due. The IRS allows you to make financial gifts up to a certain ...
In PLR 201811002 the IRS has ruled that gift splitting works differently when applied to Gift taxes and Generation Skipping Transfer (GST) taxes. Gift splitting is authorized by IRC Section 2513(a)(1) ...
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