Ever since the U.S. Court of Appeals for the Ninth Circuit issued its Crummey v. Commissioner1 ruling in 1968, the Internal Revenue Service and taxpayers have been doing battle over which gifts to trusts are present interests that qualify for the annual exclusion from gift tax. Historically, taxpayers have won these battles in the courts.   The Turner v. Comm’r2 ruling, which the Tax Court issued late last year, is significant because it’s been nearly 15 years ...

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