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Hairsplitting under I.R.C. section 2035(d): the cause and the cure

Article Abstract:

Congress should reverse its 1981 partial repeal of IRC section 2035 to reduce the potential for avoiding estate taxation through end-of-life gifts. Among other sections, section 2035 as it existed before 1982 provided that gifts made within of three years of death be returned to the estate for estate tax purposes. Changes in the law in 1981 resulted in most transfers within three years being exempt from inclusion. Gifts made just before death and property held in the estate should be treated equally for transfer tax purposes.

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Paying administration expenses out of income attributable to marital and charitable residuary bequests: double dipping or appropriate accounting?

Article Abstract:

The conflict between the Tax Court and the Circuit Courts regarding the tax treatment of estate administration expenses should be resolved in favor of allowing administration expenses to be paid out charitable and marital bequest funds. The available deductions should not be reduced by the amount of expenses paid unless the expenses relate to non-marital deduction assets. The division of authority on the treatment of estate expenses relates to interpretation of the interplay of estate taxes and income taxes on the estate.

Claims against decedents' estates, Professional fees, Executors and administrators, Executors

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A consumption tax on gifts and bequests?

Article Abstract:

Proposals to replace the US gift and bequest accretion-based tax system with a consumption-based system includes Joseph Dodge's faulty proposal that such transfers can be taxed within the consumption tax. A replacement tax system should be based upon some empirical basis and reflect wealth distribution values. The US Treasury Dept's Blueprints for Basic Tax Reform provides a superior analytical framework for a consumption-based system.

Tax Law, Public Finance Activities, Innovations, Criticism and interpretation, Inheritance and succession, Consumption taxes, Dodge, Joseph M.

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