Big-Money Untaxed Gifts Quadrupled as Rich Raced Congress

Overview


Bobbi Bierhals recalled that she and other wealth advisers “were working around the clock” in 2012 to help clients make tax-free gifts when it appeared that Congress would restrict the practice after the end of the year. Although Congress eventually extended the gifting rules following 2012, Ms. Bierhals noted that “People looked at the situation as a use-it-or-lose-it opportunity. For many people who wouldn’t have normally considered making a gift, they were motivated by the perceived deadline.” Read the full article