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 ...

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 ...

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 ...

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 ...

Tax filing season is right around the corner, and many VERIFY readers have been sending us tax-related questions before the April 15 deadline. VERIFY reader John wants to know if there is a limit on ...

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 ...

How much money can I give to my son and daughter-in-law without incurring a tax issue with the IRS? For 2023, you can give your son and daughter-in-law each $17,000 without having to deal with the IRS ...