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 ...

How to File a Gift Tax Return First, you use the federal gift tax return Form 709 that’s available online through the IRS. The IRS also provides gift tax return instructions. The agency includes ...

What the updates to the Gift Tax Annual Exclusion, Unified Credit Amount and GST Tax Exemption may mean for clients.

For many Americans, offering a $60,000 gift to pay for a child’s wedding probably isn’t something to worry about from a tax perspective. You could owe federal gift taxes if your lifetime gifts are ...

If so, the IRS claims that you should file Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return. It is always advisable to hire a professional to help you deal with your digital ...

Strategic use of gifting disbursements before one's demise can help to ensure the maximum amount of bequests to one's heirs ...

Originally set to kick off at the beginning of 2022, the IRS planned to implement a new reporting rule that would require ...