U.S. recipients from former U.S. citizens or long-term residents ("covered expatriates"). IRS finalized the regulations.

Gift tax is a federal tax on the transfer of money or property to another person. Because of annual and lifetime limits, few people end up owing it. Many, or all, of the products featured on this ...

Notably, any gifts received from specified relatives are exempt from tax, regardless of their value. These relatives include ...

An individual preparing to file a federal tax return will want to think back on gifts given in the prior year. If a gift ...

Knowing the annual gift tax exclusion can save you money and spare you from filing gift tax returns. Here’s what you need to know about the federal gift tax and how much you can offer as a one ...

The federal gift tax only applies to highly affluent people who give away millions of dollars in assets or property over the course of their lives. If you want to give a child $30,000 to help pay ...

If you make large enough gifts to relatives or friends, you might owe the federal gift tax. Here are the basics on how the gift tax works. The gift tax is a federal tax that the IRS imposes on ...

Darren Case is an Arizona attorney covering tax and estate planning. The holiday season is a time for generosity, especially when it comes to giving gifts to loved ones. Fortunately, one thing you ...

Consequently, the trust maker must file a Form 709 gift tax return to report the completed gift to the IRS. Example. A trust maker has property worth $13.61 million. They make a completed gift of ...

The federal estate and gift tax exemption changes from year to year. The current combined federal estate and gift tax exemption amount of ...