Reform the Gift Tax Annual Exclusion to Raise Revenue

4 Pages Posted: 25 Jul 2011

Date Written: July 25, 2011


In this article, Professor Crawford proposes limiting the gift tax annual exclusion to outright transfers and transfers in trust that will be included in the beneficiary’s gross estate.

The proposal is made as a part of the Shelf Project, a collaboration among tax professionals to develop proposals to raise revenue. The Shelf Project is intended to raise revenue without a VAT or a rate hike in ways that will improve the fairness, efficiency, and rationality of the tax system. An overview of the Shelf Project is found in “How to Raise $1 Trillion Without a VAT or a Rate Hike,’” Tax Notes, July 5, 2010, p. 101, Doc 2010-13081, or 2010 TNT 129-4. Congress enacted its first Shelf Project in March, 2010. Shelf Project proposals follow the format of a congressional tax committee report in explaining current law, what is wrong with it, and how to fix it.

Keywords: gift, gift tax, annual exclusion, present interest, GST, Crummey, shelf project

JEL Classification: K34

Suggested Citation

Crawford, Bridget J., Reform the Gift Tax Annual Exclusion to Raise Revenue (July 25, 2011). Tax Notes, Vol. 132, p. 443, 2011. Available at SSRN:

Bridget J. Crawford (Contact Author)

Pace University School of Law ( email )

78 North Broadway
White Plains, NY 10603
United States

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