Learn about the gift tax rules, limits, and how to report taxable gifts to the IRS. Understand the lifetime exclusion limit and annual reporting requirements with examples.

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 ...

Parents who put money into their children’s “Trump Accounts” might face a headache come tax time: Even the smallest ...

I sometimes receive a call from a client inquiring about the rules on giving gifts to friends and family. They want to find out if there are any tax deductions and tax implications for gifting. There ...

If you provide financial help to family, friends, or others — whether paying tuition, covering medical bills, or sending money through an app — you might be wondering about possible IRS or tax ...

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.

Most taxpayers, from individuals to married couples, are unfamiliar with the concept of the gift tax. The government assesses this tax on certain transfers of money or other assets from one person to ...

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 Tax Court held that a taxpayer’s 2006 gift tax return and supporting documentation constituted adequate disclosure and began the statute of limitation, despite the gift’s being deemed complete in ...

With the end of the year upon us and many people in the gift giving mood, I thought it would be a good time to discuss gift taxes. There is much confusion in the general public regarding gift taxes so ...