Friday, October 20 

1:30PM – 3:00PM

Teaching Taxation 

Chair:  Professor Michael B. Lang, Chapman University School of Law, Orange, CA

1:30pm             Looking a "Gift" Horse in the Mouth:  When a "Gift" Is Not a Gift.   This panel will examine the use of different concepts of what constitutes a gift under the income, estate and gift tax provisions.  By focusing on recent issues involving both private and charitable gifts, the panel will explore the different policies underlying the gift concepts applied in the income tax and transfer tax systems.  Subjects will include family limited partnership litigation, grappling with the distinction between unequal transfers ("gifts") and transfers treated as bona fide sales for adequate and full consideration in money or money''s worth. In addition, the panel will address the tax consequences that arise when a recipient of informal elder care conveys property to the family caregiver - that is, when the transfer constitutes a gift as opposed to compensation for services. Moderator:  Professor Martin D. Begleiter, Drake University Law School, Des Moines, IA.  Panelists:  Professor Jeffrey H. Kahn, The Pennsylvania State University, Dickinson School of Law, Carlisle, PA; Professor Wendy Gerzog, University of Baltimore School of Law, Baltimore, MD; Professor Richard L. Kaplan, University of Illinois College of Law, Champaign, IL.