What is the definition of Gift tax return? | Dictionary.net

GIFT TAX RETURN

\ɡˈɪft tˈaks ɹɪtˈɜːn], \ɡˈɪft tˈaks ɹɪtˈɜːn], \ɡ_ˈɪ_f_t t_ˈa_k_s ɹ_ɪ_t_ˈɜː_n]\

Definitions of GIFT TAX RETURN

1910 - Black's Law Dictionary (2nd edition)

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Assessed on the amount exceeding the exemption limit. If a gift has greater value than the annual federal exemption allowance, an IRS tax exists specifically for the recipient.

1910 - Black's Law Dictionary (2nd edition)
By Henry Campbell Black

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