Which of the following statements is true?
A)If the donor does not pay the gift tax, the donee is personally liable for the tax.
B)When a married couple elects gift splitting, each spouse is potentially liable for 50% of the gift tax.
C)Gift tax returns are due March 15 in the year following the gift.
D)Donors can request an automatic extension of time to pay their gift tax even when they don't request to have an income tax extension.

Question

Quizplus · Accepted Answer

The Answer of Which of the following statements is true?
A)If the donor does not pay the gift tax, the donee is personally liable for the tax.
B)When a married couple elects gift splitting, each spouse is potentially liable for 50% of the gift tax.
C)Gift tax returns are due March 15 in the year following the gift.
D)Donors can request an automatic extension of time to pay their gift tax even when they don't request to have an income tax extension.

Which of the Following Statements Is True