Most people give gifts all the time without even thinking about the potential tax ramifications. Yet technically, whenever you give something to someone, you have to follow the gift-tax rules.

If in 2018 you gave someone cash or property valued at more than $15,000 or if you do so in 2019, you’ll have to fill out Form 709 for gift tax purposes. But don’t fret. This doesn’t always mean ...

Fewer taxpayers are subject to gift taxes thanks to a $12,920,000.00 lifetime gift tax exemption for 2023. Because many taxpayers do not fall under the exemption amount, they do not necessarily have ...

The AICPA on Thursday released some suggestions for practitioners regarding issues that have arisen around the postponed May 17 tax due date for individuals. The postponement, announced by the IRS in ...

Q. I'm confused about the maximum gift exclusion of $13,000. As parents, can we give our adult son a $25,000 co-signed check from our joint money-market account and not have to fill out a Form 709 for ...

In response to the COVID-19 pandemic, the Internal Revenue Service (the IRS) issued various notices addressing both payment and filing deadlines for taxpayers. On March 18, 2020, for example, the IRS ...

Wondering if you’ll owe federal gift tax in 2025? You’re probably in the clear. Most people never pay the gift tax thanks to generous annual and lifetime ...

Image source: asenal29, Wikimedia Commons. Most people give gifts all the time without even thinking about the potential tax ramifications. Yet technically, whenever you give something to someone, you ...