If in 2018 you gave someone cash or property valued at more than $15,000 or if you do so in 2019, you’ll have to fill out Form 709 for gift tax purposes. But don’t fret. This doesn’t always mean ...

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 ...

Taxable Gift Reporting on Form 709 Many wealthy families completed gifting plans in 2021 to use the increased BEA, and will need to report taxable gifts on a Federal Gift Tax Return—Form 709. 8 minute ...

The AICPA on Thursday released some suggestions for practitioners regarding issues that have arisen around the postponed May 17 tax due date for individuals. The postponement, announced by the IRS in ...

On Sept. 28, the Internal Revenue Service posted draft instructions to accompany previously posted draft 2012 Form 709. Here are some of the highlights. Deceased Spousal Unused Exclusion (DSUE) ...

If you are looking for the instructions for the 2010 gift (and generation-skipping transfer) tax return--Form 709--you will not find them today--at least not in a PDF format. In my blog post on March ...

The new Part 6 of the draft Form 706 states that a decedent with a surviving spouse elects portability of the DSUE amount, if any, by completing and timely filing the Form 706. No further action is ...

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.