“Rich Folks Seek to Undo 2010 Taxable Gifts”
Forbes.com, January 12, 2011
Carol Harrington addressed the strict tax rules that apply to anyone who decides to turn down a taxable gift or inheritance, an action called a disclaimer that might be justified by recent tax law changes that Congress made. When financial assets are involved, Ms. Harrington said, a recipient who takes title to an asset or deposits a check into an account could probably make a valid disclaimer; but a disclaimer might not cover interest or dividends received. She added that, given all the special circumstances that applied in 2010, Congress could have made the rules for charitable gifts more lenient, but it did not.