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 ...

If a taxpayer misses the filing deadline, the IRS may impose significant penalties (up to 25% of the amount of the foreign gift or inheritance received).

When it comes to donating stocks, the key to maximizing the tax advantages comes down to whether or not your investment is ...

How much money can I give to my son and daughter-in-law without incurring a tax issue with the IRS? -Irwin For 2023, you can give your son and daughter-in-law each $17,000 without having to deal with ...

In TCJA , the modified IRS tax code doubled the federal estate, gift, and generation-skipping transfer tax exemption from $5.5 million per person to $11.2 million in 2018. Since then, the ...

Confused about your 1099-R and 1099? Learn the key differences between these tax forms and how they impact your taxes.

While you're gathering your tax documents, there are scammers out there who want your money just as much as you do.

"Publication 15-A, Employer's Supplemental Tax Guide." Page 7. Internal Revenue Service. "Frequently Asked Questions on Gift Taxes," Select "Who pays the gift tax?" and "How many annual exclusions ...

If you are starting a business, it is essential that you familiarize yourself with all of the necessary tax forms you will ...

Clients can donate both permanent life insurance (including whole life and universal life) and term life insurance to charity, but the donation options differ.

Gifts to children can come with tax strings. To keep your child's gift growing and avoid tax bills for yourself along the way ...