Learn about the gift tax rules, limits, and how to report taxable gifts to the IRS. Understand the lifetime exclusion limit and annual reporting requirements with examples.

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 ...

With the end of the year upon us and many people in the gift giving mood, I thought it would be a good time to discuss gift taxes. There is much confusion in the general public regarding gift taxes so ...

A. The gift and estate tax laws are not changing at the start of 2025, but if lawmakers in Washington, D.C., don't pass new legislation by the end of the year, there will be big changes at the end of ...

The One Big Beautiful Bill Act (OBBBA) updates estate, gift and charitable rules, raises exemptions and adjusts SALT deductions.

Want to get on someone’s good side? Help them out financially? Or, perhaps, just make them really happy? Give ‘em a gift! (Cash is always nice.) But if you’re in a gift-giving mood, and you have a lot ...

Families are often able to build up a substantial net worth through owning property, like a farm, or a small business. Unfortunately, time and time again, a patriarch’s plans to pass his legacy on to ...

Most households don't have to worry about the gift tax. For 2025, you can give up to $19,000, per person, to as many people as you want without triggering any taxes. This is the annual exemption.

Got questions about the new deductions for tips, overtime, seniors and car loans? Here’s what you’ve been asking—along with my answers—about those, as well as other updated tax provisions. The One Big ...

Forbes contributors publish independent expert analyses and insights. Admitted NY Bar and US Tax Court, covers US international tax law. For many foreign individuals, the revelation that they could be ...

THE 2001 ACT DID NOT ELIMINATE THE GIFT TAX. That means CPAs and their clients still face compliance issues when preparing and filing Form 709, United States Gift (and Generation-Skipping Transfer) ...