Learn about the gift tax rules, limits, and how to report taxable gifts to the IRS. Understand the lifetime exclusion limit and annual reporting requirements with examples.

Searching for homes and scrolling through listing photos is fun, but saving up for a down payment can be a real challenge. That’s why some home buyers turn to family for a helping hand in the form of ...

THE 2001 ACT DID NOT ELIMINATE THE GIFT TAX. That means CPAs and their clients still face compliance issues when preparing and filing Form 709, United States Gift (and Generation-Skipping Transfer) ...

How much money can I give to my son and daughter-in-law without incurring a tax issue with the IRS? -Irwin For 2024, you can give your son and daughter-in-law each $18,000 without having to deal with ...

A key rule is that the giver is responsible for any tax, not the recipient. But most people never owe any gift tax because of two protections: the annual gift tax exclusion and the lifetime estate and ...

Just about every time a benefactor provides gift funds for a home purchase, two questions come up. Do I have to report the gift to the Internal Revenue Service? Do I have to pay tax on the gift? The ...

Want to get on someone’s good side? Help them out financially? Or, perhaps, just make them really happy? Give ‘em a gift! (Cash is always nice.) But if you’re in a gift-giving mood, and you have a lot ...

Most households don't have to worry about the gift tax. For 2025, you can give up to $19,000, per person, to as many people as you want without triggering any taxes. This is the annual exemption.

A Q&A on the potential 2026 estate, gift, and generation-skipping transfer (GST) tax changes and how counsel should approach planning with the uncertain future of federal transfer tax. As the national ...