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 ...

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.

Fewer taxpayers are subject to gift taxes thanks to a $12,920,000.00 lifetime gift tax exemption for 2023. Because many taxpayers do not fall under the exemption amount, they do not necessarily have ...

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 ...

The IRS allows individuals to give up to $18,000 in gifts per person in 2024 without having to report it or pay taxes on the amount. This means that a couple can give up to $36,000 to their child from ...

Thinking about giving money or assets to loved ones? Whether it’s a generous graduation gift, help with a down payment or ...

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 ...

A $1 million gift from a generous European grandmother to her doting U.S. grandson could result in a fine of $250,000 if they are not careful. Gifting sounds nice in theory, but it can be complicated ...