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Unified Tax Credit

A federal tax credit that may be applied against the gift tax, the estate tax, and sometimes the Generation-Skipping Transfer tax.

Related information about Unified Tax Credit:
  1. Publication 950 (10/2011), Introduction to Estate and Gift Taxes
    A credit is an amount that reduces or eliminates tax. The unified credit applies to both the gift tax and the estate tax and it equals the tax on the applicable ...
     
  2. Unified Tax Credit Definition | Investopedia
    A tax credit that is afforded to every man, woman and child in America by the IRS. This credit allows each person to gift a certain amount of their assets to other ...
     
  3. Estate tax in the United States - Wikipedia, the free encyclopedia
    The estate tax in the United States is a tax imposed on the transfer of the "taxable estate" of a deceased person, whether such property is transferred via a will, ...
     
  4. What Is the Unified Tax Credit? - Free Legal Advice - FreeAdvice.com
    A tax credit can reduce or eliminate your tax obligation. One such credit is the unified tax credit, so named because federal Gift and Estate Taxes are integrated ...
     
  5. Unified Tax Credit - Financial Dictionary - The Free Dictionary
    Unified tax credit. A federal tax credit that reduces tax liability, dollar for dollar, on lifetime gifts and asset transfers at death. Unified Credit. In the United States, ...
     
  6. DOR: Tax Credits
    College credit; Credit for taxes paid to other states; Indiana state and county tax withholding credits; Indiana's earned income credit; Unified tax credit for the ...
     
  7. Indiana Unified Tax Credit for the Elderly | The Benefit Bank
    Indiana Unified Tax credit for the Elderly A credit ranging from $40 to $140 for taxpayers who are age 65 or older, file a joint return if married, and have a federal ...
     
  8. What Is the Unified Tax Credit? - wiseGEEK
    Oct 4, 2012 ... A unified tax credit lets someone offset estate or gift taxes incurred within a given period, reducing the amount of tax that needs to be paid.