California to Turn Over to IRS Records of Property Transfers between Non-Spouse Relatives That Weren't Reported

A district court has is allowing the IRS to issue a summons to the State of California Board of Equalization in order to detect transfers of property between non-spouse relatives that were not reported on gift tax returns. 

See Michael Brooks, "California Taxpayers: Failed to File Gift Tax Return for a Property Transfer to a NonSpouse Relative From 2005-2010?  The State of California is About to Tell the IRS All About It.", Sanger & Manges (December 28, 2011).

By Derek Young, Associate Editor, Wealth Strategies Journal