unified credit

By SovConn | May 20, 2015

See unified estate-and-gift tax credit. unified estate-and-gift tax credit.A tax credit applied against the federal unified transfer tax. IRC (26 USCA) § 2001(c)(2). — Often shortened to unified credit. — Also termed applicable
exclusion credit. [Cases: Internal Revenue 4182.30. C.J.S. Internal Revenue § 541.]
[Blacks Law 8th]

Posted in Law Dictionary Definitions