A federal appeals court affirmed a popular gift tax strategy that is available for taxpayers to help lessen the blow when IRS does not accept valuation discounts on gifts.  This technique is intended to discourage the IRS from challenging valuation discounts.  By making gifts default to charity if the valuation discounts are adjusted by the IRS, it effectively takes those potential tax dollars off the table.  Thus, making the pursuit of the issue a waste of time and taxpayers’ money.   Read more…