GROSSED-UP GIFT
\ɡɹˈə͡ʊstˌʌp ɡˈɪft], \ɡɹˈəʊstˌʌp ɡˈɪft], \ɡ_ɹ_ˈəʊ_s_t_ˌʌ_p ɡ_ˈɪ_f_t]\
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The total amount promised by the deceased to a beneficiary. Since a gift tax can reduces the promised value, there is a practice of adding an amount back into the deflated value after the taxes are paid, bring the gift back to its original amount.
By Henry Campbell Black
Word of the day
Snake's-head
- Guinea-hen flower; -- so called in England because its spotted petals resemble the scales of a snake's head.