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 ...

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 ...

If you give someone cash or property valued at more than the 2023 annual exclusion limit of $17,000 ($34,000 for married joint filers), you'll have to fill out Form 709 for gift tax purposes. But ...

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 ...

Thinking about giving money or assets to family or friends? The IRS has strict gift tax limits that affect how much you can give without triggering taxes. This guide breaks down the annual and ...

After the 2020 election, certain tax proposals provided for a reduced BEA (from $11,700,000 in 2021) to take effect as soon as Jan. 1, 2022, four years earlier than the TCJA sunset. As such, many ...

Since 2013, the gift tax filing threshold has been $14,000, making it relatively apparent that if your client made a gift in excess of $14,000 to any one person (other than a spouse) in 2013 or any ...

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 ...

In a continued push to overhaul its tax processing technology, the Internal Revenue Service contracted robotic intelligence company Ripcord to digitize some of its data. The pilot program, dubbed the ...

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.