General Tax Reform: Estate and gift tax revision
Title | General Tax Reform: Estate and gift tax revision PDF eBook |
Author | United States. Congress. House. Committee on Ways and Means |
Publisher | |
Pages | 196 |
Release | 1973 |
Genre | Taxation |
ISBN |
Estate and gift tax revision
Title | Estate and gift tax revision PDF eBook |
Author | United States. Congress. Joint Committee on Internal Revenue Taxation |
Publisher | |
Pages | 16 |
Release | 1976 |
Genre | Taxation |
ISBN |
Effects of the Federal Estate Tax on Farms and Small Businesses
Title | Effects of the Federal Estate Tax on Farms and Small Businesses PDF eBook |
Author | United States. Congressional Budget Office |
Publisher | |
Pages | 60 |
Release | 2005 |
Genre | Family farms |
ISBN |
Federal Estate and Gift Taxes
Title | Federal Estate and Gift Taxes PDF eBook |
Author | United States. Congress. House. Committee on Ways and Means |
Publisher | |
Pages | 880 |
Release | 1976 |
Genre | Gifts |
ISBN |
General Tax Reform (testimony from Administration and Public Witnesses) Public Hearings, Ninety-third Congress, First Session on the Subject of General Tax Reform: (March 30; April 2, 1973)
Title | General Tax Reform (testimony from Administration and Public Witnesses) Public Hearings, Ninety-third Congress, First Session on the Subject of General Tax Reform: (March 30; April 2, 1973) PDF eBook |
Author | United States. Congress. House. Committee on Ways and Means |
Publisher | |
Pages | 432 |
Release | 1973 |
Genre | Taxation |
ISBN |
Tax Reform, 1969
Title | Tax Reform, 1969 PDF eBook |
Author | United States. Congress. House. Committee on Ways and Means |
Publisher | |
Pages | 532 |
Release | 1969 |
Genre | Income tax |
ISBN |
Considers H.R. 5250 and H.R. 202 and related bills, general proposals and policy recommendations, to close tax advantages for unearned income and provide larger tax deduction for families with handicapped or retarded children.
The Federal Gift Tax
Title | The Federal Gift Tax PDF eBook |
Author | David Joulfaian |
Publisher | |
Pages | 0 |
Release | 2007 |
Genre | |
ISBN |
The gift tax was first enacted in 1924, repealed in 1926, overhauled and reintroduced in 1932. At its peak in fiscal year 1999, it raised $4.6 billion in revenues, before the recent phased-in tax rate reductions ushered by the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) took effect. It is noteworthy that the gift tax was first enacted as a protective measure to minimize estate and income tax avoidance, and not for its direct revenue yield. Similarly, EGTRRA, while phasing out the estate tax, retained the gift tax for the very same reasons. Unlike the estate tax which faces an uncertain future, the gift tax is little affected by recent legislative proposals and will remain part of the tax code for the foreseeable future. Nevertheless, the gift tax has been the subject of little scrutiny and studies of its economic implications are rare. This paper is an attempt to fill this void. It traces the evolution of the gift tax since its inception, and sketches out the structure of the tax and its complex interactions with the income and estate taxes. The paper also provides an overview of the direct fiscal contribution of the gift tax, and traces the number of taxpayers over time as well as their attributes. It concludes with a discussion of the behavioral effects of the gift tax and a review of the scant literature. These include empirical evidence on the choice between gifts and bequests, timing of gifts, and compliance among others.