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 ...

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 ...

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 ...

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 ...

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 ...

Most people will not owe federal gift tax in 2026. The IRS allows generous annual and lifetime exemptions, which means gift tax applies only to very large transfers made by high-net-worth ...

In the countdown to April 18 (the day tax returns are due this year), many people rushing to prepare their individual income tax returns will overlook another key tax document that's due the same day: ...

Late on Friday, the IRS added gift and generation-skipping transfer (GST) tax returns to the list of federal taxes and tax returns that have had their April 15 deadlines postponed to July 15 due to ...

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 ...

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.