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.

If you give someone cash or property valued at more than the 2023 annual exclusion limit of $17,000 ($34,000 for married joint filers), you'll have to fill out Form 709 for gift tax purposes. But ...

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 ...

Gifting Bitcoin in 2025? Learn how the IRS treats crypto gifts, what counts toward the $19,000 exclusion, when to file Form ...

You don’t always have to pay taxes when you’re giving a gift to your friends or family. Learn more about the gift tax exemption and its limitations. The gift tax is a federal tax that the IRS imposes ...

Beverly is a writer, editor, and paralegal specializing in personal finance and tax law. She covers personal financial and legal topics, as well as tax breaks, tax preparation software, and tax law ...

Whether you work in the gig economy or are giving a cash gift to a relative, you need to know if and how to report that money to the IRS. There are different rules and reporting requirements depending ...

Many people give a gift of money to celebrate an occasion or milestone for a loved one without contemplating taxes. And in most cases, you don’t have to worry about it because of the annual tax-free ...

With the current gift tax exclusion amount set at a record-high $5 million, many taxpayers appear to consider the gift tax no longer relevant to their planning. That may be a mistake. Taxpayers should ...

Image source: asenal29, Wikimedia Commons. Most people give gifts all the time without even thinking about the potential tax ramifications. Yet technically, whenever you give something to someone, you ...