The gift tax limit affects how much can be given each year without tax consequences. See what counts as a gift and when ...

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 ...

Most people won’t owe gift tax in 2025 or 2026. Learn the annual limits, lifetime exemption, when Form 709 is required, and ...

The Tax Cuts and Jobs Act (TCJA) temporarily increased the federal estate, gift and generation-skipping transfer (GST) tax exemptions from $5,000,000 to $10,000,000 (the federal estate and gift tax ...

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 ...

Add Yahoo as a preferred source to see more of our stories on Google. Whether you work in the gig economy or are the recipient of a cash gift from a relative, you need to know if and how to report ...

The Internal Revenue Service has contracted with Ripcord, a startup company that does robotic digitization of documents and records, to pilot test a program to digitize filings of Form 709, which is ...

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 ...

After four years, the annual federal gift tax exclusion has increased from $15,000 to $16,000. The annual exclusion is the most you can give away to or for the benefit of a single person within a ...

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.