In 2017, the federal gift and estate tax exemption was $5.49 million 1. The Tax Cuts and Jobs Act of 2017 doubled the gift and estate tax exemption amount to $11.18 million in 2018, and that amount ...
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 ...
The Tax Cuts and Jobs Act of 2017 (TCJA) enacted significant changes in the federal estate and gift tax laws commencing in 2018. One of the most notable changes was that the TCJA doubled the federal ...
The Tax Court held that a taxpayer’s 2006 gift tax return and supporting documentation constituted adequate disclosure and began the statute of limitation, despite the gift’s being deemed complete in ...
The Internal Revenue Service (IRS) has its hand out for tax dollars associated with your generosity, but there are tax-smart loopholes. In fact, the IRS will even let you give away $1 million without ...
SmartAsset and Yahoo Finance LLC may earn commission or revenue through links in the content below. Unless you have given away more than $13 million in your lifetime, a $75,000 gift will not trigger ...
Forbes contributors publish independent expert analyses and insights. Ashley L. Case, J.D., LL.M., writes about tax and estate planning. The intricacies of federal tax laws can be daunting, especially ...
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