Moreover, most donees
are careful to make clear to prospective donors
The named donees
signified their acceptance of the donation on the face of the document.
Looming regulatory concerns with making gifts to groups that are not qualified donees
are a case in point.
TIGTA recommended matching copies of Form 1098-C submitted with taxpayers' returns with its records and that the IRS develop a process to identify donees
that fail to file the form.
But, if before its execution, one or more of such donees
dies or becomes incompetent, such power may be exercised by the survivor or the competent donee
, unless such exercise is explicitly barred by the terms of the instrument creating such power.
2) In that case, the taxpayers failed to show that gifts of partnership interests conferred on the donees
an unrestricted right to immediately use, possess, or enjoy either the property itself or income from the property.
As to donees
, exclusion of the amount or value received might or might not be allowed.
The voting preferred stock is retained by the parent in order to maintain control of the corporation, and the nonvoting common stock is given to the children, or other donees
6) For the temporary regulations providing guidance for the filing of information returns by donees
relating to qualified intellectual property contributions, see Temp.
1) Equally important, rightful donees
with an understanding of these factors can take care to structure a gift in a manner that will avoid later challenge.
The centre is funded as a regulated donee
, yet under the law regulated donees
cannot be part of a political party.
First, an individual can give up to $12,000 (in 2006) gift tax free every year to each of an unlimited number of donees