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 ...

U.S. recipients from former U.S. citizens or long-term residents ("covered expatriates"). IRS finalized the regulations.

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 ...

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

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 ...

IRS Forms 1099 are critical to IRS information return matching so the IRS can match your tax reporting and send tax notices ...

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

The good news is you may avoid paying gift taxes altogether ... though you still have to fill out Form 709.