If a gift exceeds the annual limit, the giver is responsible for filing a gift tax return using IRS Form 709. This form tracks lifetime gifts given by the donor, but the recipient faces no tax ...

you will need to file a gift tax return (IRS Form 709). However, filing an IRS Form 709 does not automatically mean that you will owe gift tax; it simply allows the IRS to track the value of gifts ...

If you exceed the annual gift tax limit, you may have to file a federal gift tax return (IRS Form 709). But exceeding the limit doesn't necessarily result in owing tax, thanks to a high lifetime ...

Typically, the gift tax return is due on April 15 of the year ... You must report all gifts over the annual exclusion limit to the IRS using Form 709. You should only file one Form 709 per ...

If any gift exceeds the annual limit, you’ll file a gift tax return on IRS Form 709. This is purely an informational return with no tax due until you cross the lifetime limit of $13,610,000 (for ...

To do this, you’ll fill out IRS Form 709 and send it in with your return. Should you need to pay gift taxes, though, you’ll follow this set of rates and brackets: Federal Gift Tax Rates Note ...