Gift Tax Questions

[erchess]

First off an internet search turned up the surprising to me result that gift tax returns are due 3/30. Is that right?

Second, last year I did this guy's gift tax after tax season but perhaps he had extended them or is that possible - and if so what form would one file?

Third, for whatever reason the guy has listed most of the gifts as from him with the result that in his mind he needs a 709 but his wife does not. Trouble is the gifts came out of a joint account. However NC is not a community property state if that matters. I am thinking that because he made the gifts out of a joint account, half are his and half are hers and it is not necessary to elect gift splitting. Am I right? TTB seems to me to back me up.

Fourth, am I right in thinking that it is advantageous for estate planning purposes if the first spouse to die had more gift tax than the surviving spouse because the marital exclusion will make the gift tax of the first to die irrelevant and only what is left to the kid is affected by gift tax?

Fifth, this guy is telling me he and his wife made nonreportable gifts to other children and their wives. He seems to think they are not reportable because of the amounts. Would I be right in saying that a gift tax return has to report all the gifts an individual made including garden variety deductible charitable contributions?

Ty for any help. This guy is a high wealth individual and family friend with an estate plan written by a lawyer so I want to double check everything before I tell him that things cannot or should not be done as he asks.

[AJsTax]

Ttb 21-2

Extensions. The income tax extension (Form 4868) also extends the deadline
for filing Form 709. File Form 8892 to make an extension payment of gift
tax or to request a filing extension when an income tax extension is not
requested.
Due date is the same day as the 1040.

Any gift of $13,000 or less to one individual is not reported.
Does not matter what else was gifted in the year.
The small charities will also not go on the return.
Example: Taxpayer gave 25,000 to one child..gave 13,000 each to 4 other siblings. gave $10,000 each to three friends.
Only the $25,000 gift will be reported ..The others are totally exempted.

[erchess]

Thank You AJ

You cleared up a number of points.

I'd still like to know if I'm right in thinking that gifts made out of a joint account have to be joint gifts even though they live in a non community property state.

I'd also like guidance on the impact of gift splitting on estate planning. Maybe he has health problems and is likely to die first but actually I had the contrary impression. I thought she had Altzheimer's.