Crown Loans

On February 22, 1984, the Supreme Court decided the case of Dickman v. Commissioner in which it held that a lender makes a transfer subject to gift tax by making interest-free demand loans of cash to a family member or a closely-held family…

Since the enactment of the federal income tax laws, taxpayers have attempted to shift income to others. Because of limitations on credits and deductions, the allowance of personal exemptions and the progressive nature of the income tax,…