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Please post the ans asap REQUIRED: PART A:...

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Accounting

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REQUIRED: PART A: Theory Questions: I. Who pays the gift tax and the estate tax? 2. Define the term "gift." 3. How much is the "annual exclusion" for gifts? 4. What is meant by "gift splitting?" I expenses, the marital deduction, and the charitable contribution deduction for gifts 6. What is the maximum gift and estate tax rate? 7. What is the amount of the unified credit and its equivalent exemption? 8. What is the basis of a gift for gift tax purposes? 9. As of what date is the value of the "gross estate" computed? 10. What are the typical deductions available for estate tax purposes? 11. What are the typical credits available for estate tax purposes

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