MLchartDataset catalogue

Federal gift tax

Term · Law · MLC-T-LAW-002072

A tax imposed by the United States government on the transfer of property by gift during the donor's lifetime. This tax applies to transfers of money or property for which the donor receives nothing, or less than full value, in return. The tax is generally paid by the donor, not the recipient, and is reported on IRS Form 709.

Table 1. Record
IdentifierMLC-T-LAW-002072
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-002072",
  "term": "Federal gift tax",
  "field": "Law",
  "definition": "A tax imposed by the United States government on the transfer of property by gift during the donor's lifetime. This tax applies to transfers of money or property for which the donor receives nothing, or less than full value, in return. The tax is generally paid by the donor, not the recipient, and is reported on IRS Form 709.",
  "url": "https://mlchart.com/terminology/law/federal-gift-tax/"
}

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