• Tax Court denies Internal Revenue Service motion for summary judgment on net gift discount for IRC Section 2035 liability—In Steinberg v. Commissioner, 141 T.C. No. 8 (Sept. 30, 2013), Jean Steinberg entered into a net gift transaction with her four daughters when she was 89 years old. Her daughters agreed to assume and pay any federal gift tax liability imposed as a result of the gifts. In addition, her daughters agreed to assume any federal or state estate tax liability ...

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