Debt Dialogue: July 2016
US and EU Approve New Privacy Shield for Transnational Data Transfers
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On December 17, 2010 President Obama signed into law the "Tax Relief, Unemployment Insurance Authorization, and Job Creation Act of 2010." The Act increased the lifetime gift tax exemption from $1 million to $5 million for 2011 and 2012, allowing individuals to make lifetime gifts of up to that amount, and married couples to make combined lifetime gifts of up to $10 million, free of gift tax.