Gift Tax

IRS Announces 2018 Estate And Gift Tax Limits: $11.2 Million Per Couple

It’s official. For 2018, the estate and gift tax exemption is $5.6 million per individual, up from $5.49 million in 2017. That means an individual can leave [...]

IRS Announces 2015 Estate And Gift Tax Limits

The Internal Revenue Service announced the 2015 estate and gift tax limits, and the federal estate tax exemption rises to $5.43 million per person, and the [...]

Year-End Gifting Rules Revisited

The Internal Revenue Service is reminding individuals and businesses making year-end donations that several important tax law provisions have taken effect in [...]

Gift Tax Returns: What You Need To Know

In the countdown to April 15, many people rushing to prepare their individual income tax returns will overlook another key tax document that’s due the same [...]

The New Gift Tax Audits: IRS Identifies Non-Filers Using State Property Records

A new IRS gift tax compliance initiative responds to suspicions of widespread failure to file gift tax returns. According to Josephine Bonaffini, the [...]

Eight Tips to Determine if Your Gift is Taxable

If you gave money or property to someone as a gift, you may owe federal gift tax. Many gifts are not subject to the gift tax, but the IRS offers the following [...]