If you made gifts of more than the annual exclusion to any one person in 2010, you are required to file a gift tax return (Form 709). Gift tax returns for 2010 are due April 15, 2011. Annual Exclusion In 2010, the annual exclusion was $13,000. So, if you gave a gift of more than [...]
The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 that was signed into law by the president has an added benefit applicable to the GST tax only. Generation Skipping Tax Savings in 2010 Essentially, there is no generation skipping transfer tax imposed in 2010. Obviously, there isn’t much time left in 2010 [...]
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