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- Title
TOWARD A REALITY-BASED ESTATE TAX.
- Authors
GERZOG, WENDY C.
- Abstract
Currently, the estate tax does not accurately value the property and transactions that it is meant to cover. Additionally, the marital and charitable deductions do not reflect actual associated transfers, instead skewing their benefits away from their purported beneficiaries. This Article proposes reforming the estate tax by eliminating these sources of unreality and distortion, and to make the current estate tax a reality-based tax. Through six specific proposals, the Article identifies solutions to the problems associated with testamentary transfers, puts forth alternative methods of valuation to prevent gaming of transfer taxes, and offers significant modifications to two deduction provisions.
- Subjects
UNITED States; INHERITANCE &; transfer tax laws; VALUATION -- Law &; legislation; MARITAL deduction; INCOME tax deductions for charitable contributions; ESTATES (Law); GIFT tax laws; TAXATION of life insurance; UNITED States. Congress; LAW; TAX laws
- Publication
Boston College Law Review, 2016, Vol 57, Issue 3, p1037
- ISSN
0161-6587
- Publication type
Article