Definitions for "Unified Tax Credit"
Keywords:  tentative, gift, lifetime, dollar, vat
A federal tax credit that may be used in certain cases to offset the gift tax,...
A federal tax credit that may be applied against the gift tax, the estate tax, and sometimes the Generation-Skipping Transfer tax.
This is an estate and gift tax term. It is the level of assets that can be transferred either during lifetime or at death without creating a gift or estate tax.