so even though the trust maker must file the gift tax return, no gift tax is owed because the trust maker’s exclusion “exempted” the gift from gift tax. Because the trust maker has given up ...

So, for example, if you have never given anyone a taxable gift, you will pay no gift tax and your annual exclusion will be reduced. If you have already exhausted your lifetime exemption ...

Under the Income Tax Act, gifts received from specified relatives—such as parents, siblings, or spouses—are fully exempt from ...

Gift tax rates range from 18% to 40% based on the size of the gift. However, not all gifts trigger this federal tax. In 2025, the IRS allows you to give away up to $19,000 ($38,000 for married ...

The instant appeal filed by the assessee is directed against the order dated 15.03.2024 passed by the National Faceless Appeal Centre (NFAC), Delhi. The addition of Rs.10,80,000/- on account of cash ...

Opinions expressed by Forbes Contributors are their own. Darren Case is an Arizona attorney covering tax and estate planning. The holiday season is a time for generosity, especially when it comes ...

The annual gift tax exclusion is $19,000 for 2025. For example, a parent gifts $19,000 to a child. This means no tax and no gift tax return, according to Rod Stern, partner, Murtaugh, Treglia ...

But if you don’t file a gift tax return, there’s no statute of limitations. The IRS can raise questions about the transaction five, 10, or 20 years later. It can come after your estate or ...