Podcast: Court Case Impact on Annual Gift Tax Exclusion Planning

In this podcast, Bob Keebler discusses the strategies to consider when advising clients on the annual gift tax exclusion in light of a recent court case, Mikel vs. the Commissioner, where the Tax Court held a married couple’s gift to a trust were gifts of present interest in property, qualifying for the annual exclusion. He stresses the importance of due diligence and what to do when verifying the availability of the gift tax exclusion amount and preparing the gift tax return.