taxable gift
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 312 U.S. 393 - Helvering v. Hutchings · 1941Most cited · 291 citing opinions
A gift to a trustee reserving to the donor the economic benefit of the trust or the power of its disposition, involves no taxable gift. It is only upon the surrender by the donor of the benefit or power reserved to himself that a taxable gift occurs.