A key federal estate, gift and generation-skipping transfer tax exemption included in the Tax Cuts and Jobs Act (“TCJA”) is ...

Down payment amounts above $19,000 and received as a gift must be reported on a gift tax return by the person making the gift—not the beneficiary. But that doesn't mean the donor will pay taxes. "The ...

Nevertheless, the fundamental principle of paying as little in estate taxes as legally permitted is still an imperative for many families. However, the IRS also imposes Gift Taxes on transfer of ...

The Union Budget for 2025-26 has proposed a major tax arbitrage for unit-linked insurance policies and endowment plans sold via Gift City. If approved, the maturity proceeds in such dollar ...

It’s been a long wait. The regulations clarify (to a certain extent) the tax implications for U.S. persons receiving certain gifts and bequests from former U.S. citizens and long-term resident ...

The federal estate and gift tax exemption changes from year to year. The current combined federal estate and gift tax exemption amount of $13.99 million per person ($27.98 million per married ...

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 ...

In 2023, you could have made gifts worth up to $17,000 per recipient without reducing your lifetime exemption, being required to report the gift to the IRS, or paying federal gift tax. Gifts over ...

GIFT City, which is India’s only International Financial Services Centre (IFSC), has got a shot in the arm in the Union Budget as the government has introduced tax benefits for ship leasing ...

To attract foreign investors, fund managers, and global banks, Finance Minister Nirmala Sitharaman announced a fresh set of tax incentives that could position GIFT City as a contender against ...

State BJP president Rajiv Bindal said the relief in income tax is a big gift by the Central government to the public. “The NDA government led by Prime Minister Narendra Modi has always believed ...