Discuss the statutory exemptions from the gift tax.
What will be an ideal response?
Payments of medical expenses and college tuition are not gifts. The payments are exempt only if paid directly to the service provider. Only tuition qualifies as an educational expense. The beneficiary of the payment need not be a relative. Congress permitted this exemption to allow for the support of children who had reached majority as well as for elderly parents who may be ill to alleviate concern over the gift tax.
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