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 ...

Knowing the annual gift tax exemption can save you time and money.

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

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 ...

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 2024, you can give your son and daughter-in-law each $18,000 without having to deal with ...

Estate planning for high net worth individuals often involves the lifetime gratuitous transfer of assets to family members or trusts for their benefit. Oftentimes these gifts should, and in some cases ...

Q: What, if anything, is changing with the estate and gift tax laws in 2026? A:The amount that each person can give away during life or at death will increase from $13,990,000 to $15,000,000 as a ...

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 ...

Estate planning isn’t a one-time event — it’s a moving target. With gift and estate tax laws in flux and even “permanent” reforms often lasting no more than a decade or an administration, families are ...

Want to get on someone’s good side? Help them out financially? Or, perhaps, just make them really happy? Give ‘em a gift! (Cash is always nice.) But if you’re in a gift-giving mood, and you have a lot ...