IRS Form 708 is here. 40% Tax on Gifts & Bequests from Covered Expatriates (former citizens and green card holders). Transfer ...

The return (Form 709) is due on or before April 15 following the close of the calendar year for which the return is made; however, if the donor is given an extension of time for filing the income tax ...

How much money can I give to my son and daughter-in-law without incurring a tax issue with the IRS? -Irwin For 2023, you can give your son and daughter-in-law each $17,000 without having to deal with ...

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 ...

Forbes contributors publish independent expert analyses and insights. Bob Carlson researches all facets of retirement finances. Gift tax returns could be the most misunderstood, neglected, and ...

Many people give a gift of money to celebrate an occasion or milestone for a loved one without contemplating taxes. And in most cases, you don’t have to worry about it because of the annual tax-free ...