Gift tax return disclosure.

• Author: Laffie, Lesli S.

Rev. Proc. 2000-34 provides guidance on disclosing a gift if adequate information was not initially submitted with a gift tax return filed in the year the gift was made.

To commence the running of the three-year statute of limitations for such gifts, the donor must file an amended gift tax return for the calendar year of the gift. The amended return must identify the transfer and provide the...