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 ...

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.

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 give your son and daughter-in-law each $17,000 without having to deal with ...

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 ...

In a continued push to overhaul its tax processing technology, the Internal Revenue Service contracted robotic intelligence company Ripcord to digitize some of its data. The pilot program, dubbed the ...