1.   These types of tax take the form of annual wealth taxes, gift taxes and inheritance taxes.

2.   Although capital gains taxes must be paid on any profits made in the sale, gifts of this kind avoid any gift tax.

3.   And states also have gift taxes.

4.   But Isenberg set up trusts that allowed him to transfer more options while paying less in gift taxes.

5.   But it is clear that a far greater percentage of Americans who owe gift taxes shortchange the government than do Americans paying income taxes and other levies.

6.   Citizens can also make unlimited gifts to spouses without incurring gift tax.

7.   Changes in the gift tax, the unified credit and trusts are thoroughly discussed.

8.   Erard says that the agency lacks a statistical technique to select estate and gift taxes for audit, but that one could be readily developed.

9.   Gone forever would be income tax returns, estate taxes, gift taxes, capital gains taxes, self-employment taxes and corporate taxes.

10.   Gift taxes also may apply.