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 ...

Wondering if you’ll owe federal gift tax in 2025? You’re probably in the clear. Most people never pay the gift tax thanks to generous annual and lifetime ...

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 ...

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 ...

The IRS has determined that any person required to pay Federal gift tax or generation-skipping transfer tax or to file IRS Form 709 (United States Gift and Generation-Skipping Transfer Tax Return) on ...

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.