The Federal Gift Tax

The Federal Gift Tax
Author :
Publisher :
Total Pages : 0
Release :
ISBN-10 : OCLC:1375120004
ISBN-13 :
Rating : 4/5 (04 Downloads)

Book Synopsis The Federal Gift Tax by : David Joulfaian

Download or read book The Federal Gift Tax written by David Joulfaian and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The gift tax was first enacted in 1924, repealed in 1926, overhauled and reintroduced in 1932. At its peak in fiscal year 1999, it raised $4.6 billion in revenues, before the recent phased-in tax rate reductions ushered by the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) took effect. It is noteworthy that the gift tax was first enacted as a protective measure to minimize estate and income tax avoidance, and not for its direct revenue yield. Similarly, EGTRRA, while phasing out the estate tax, retained the gift tax for the very same reasons. Unlike the estate tax which faces an uncertain future, the gift tax is little affected by recent legislative proposals and will remain part of the tax code for the foreseeable future. Nevertheless, the gift tax has been the subject of little scrutiny and studies of its economic implications are rare. This paper is an attempt to fill this void. It traces the evolution of the gift tax since its inception, and sketches out the structure of the tax and its complex interactions with the income and estate taxes. The paper also provides an overview of the direct fiscal contribution of the gift tax, and traces the number of taxpayers over time as well as their attributes. It concludes with a discussion of the behavioral effects of the gift tax and a review of the scant literature. These include empirical evidence on the choice between gifts and bequests, timing of gifts, and compliance among others.


The Federal Gift Tax Related Books

The Federal Gift Tax
Language: en
Pages: 0
Authors: David Joulfaian
Categories:
Type: BOOK - Published: 2007 - Publisher:

DOWNLOAD EBOOK

The gift tax was first enacted in 1924, repealed in 1926, overhauled and reintroduced in 1932. At its peak in fiscal year 1999, it raised $4.6 billion in revenu
Federal Taxes on Gratuitous Transfers
Language: en
Pages: 679
Authors: Joseph M. Dodge
Categories: Law
Type: BOOK - Published: 2014-12-09 - Publisher: Aspen Publishing

DOWNLOAD EBOOK

This book deals with the federal income tax as it bears on gratuitous transfers and with the federal wealth transfer taxes. The federal wealth transfer taxes pr
Rethinking Estate and Gift Taxation
Language: en
Pages: 544
Authors: William G. Gale
Categories: Business & Economics
Type: BOOK - Published: 2011-07-01 - Publisher: Rowman & Littlefield

DOWNLOAD EBOOK

Although estate and gift taxes raise a small fraction of federal revenues, they have become sources of increasing political controversy. This book is designed t
Effects of the Federal Estate Tax on Farms and Small Businesses
Language: en
Pages: 60
Authors: United States. Congressional Budget Office
Categories: Family farms
Type: BOOK - Published: 2005 - Publisher:

DOWNLOAD EBOOK

Federal Estate and Gift Taxation in a Nutshell
Language: en
Pages: 586
Authors: John K. McNulty
Categories: Law
Type: BOOK - Published: 1989 - Publisher:

DOWNLOAD EBOOK

Wealth Transfer Taxation; Constitutionality; The Federal Estate Tax, Gift Tax and Generation-Skipping Transfer Tax Outlined; Unification of Transfer Taxes; Grat