With the passage of the 2001 tax laws,there is now an advantage to incurring estate tax rather than gift tax liabilities.

Question

Quizplus · Accepted Answer

The 2001 tax laws introduced changes in the estate and gift tax provisions, including an increase in the estate tax exemption amount and a decrease in the gift tax rate. As a result, it may be more advantageous for individuals to incur estate tax liabilities rather than gift tax liabilities, especially if they have a high net worth and anticipate their estate to be subject to estate tax in the future. Therefore, the statement is true.

With the Passage of the 2001 Tax Laws,there Is Now