Which of the Following Statements Is True

question 84

Multiple Choice

Which of the following statements is true?

• A)If the donor does not pay the gift tax, the donee is personally liable for the tax.
• B)When a married couple elects gift splitting, each spouse is potentially liable for 50% of the gift tax.
• C)Gift tax returns are due March 15 in the year following the gift.
• D)Donors can request an automatic extension of time to pay their gift tax even when they don't request to have an income tax extension.

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Definitions:

Children

Young human beings who are in the stages of development from infancy to puberty.

Time

A continuous, irreversible progression through past, present, and future, serving as a fundamental dimension in which events occur sequentially.

Restless Legs Syndrome

A disorder characterized by an uncontrollable urge to move the legs, usually because of an uncomfortable sensation, typically occurring in the evening or night.

Men

Refers to adult human males, often studied in various contexts including health, behavior, and societal roles.