Unified transfer tax

Definition - Noun
: a tax imposed under the Internal Revenue Code on the cumulative total of gifts made over a certain amount by a person during his or her lifetime or after death
see also unified credit
The unified transfer tax system creates liability for a single tax rather than separate liability for a gift tax and an estate tax.



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Based on Merriam-Webster's Dictionary of Law ©2001.
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intrinsic fraud

fraud (as by the use of false or forged documents, false claims, or perjured testimony) that deceives the trier of fact and results in a judgment in favor of the party perpetrating the fraud


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