Exam Question 8 of 30 Select the best answer. If a gift made In a calendar perlod before August 5, 1997, was reported on a gift tax return, taxes were pald on the gift, and the time for further assessment of gift tax has explred, which of the following statements is correct? O A. Additional tax may be assessed. O B. An IRS challenge will not change the valuation. O C. Current gift return valuations can be changed 9 D. The IRS can challenge the valuation. #