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Unified Tax Credit |
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Unified tax credit A federal tax credit that reduces tax liability, dollar for dollar, on lifetime gifts and asset transfers at death. Unified Tax Credit A federal tax credit that reduces the tax liability for various end-of-life taxable income and assets. Primarily, the unified tax credit may reduce one's estate tax liability or taxes on lifetime gifts on a dollar-for-dollar basis. In certain circumstances, the unified tax credit may be applied to a generation-skipping transfer. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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