For Last Minute 2012 gifts, make sure that the check is CASHED

check.jpgAs I write this on Sunday, December 30, 2012, Congress has not yet made a deal to avoid the ‘fiscal cliff’ and the estate and gift taxes look certain to revert to their 2001 levels, at least until Congress and the President do make a deal. For those of you considering a very last minute gift, by check, before the year’s end, the check should be written, delivered, and cashed (or at the very least presented to the bank for cashing) by the recipient before the end of the year to qualify as a 2012 gift.