The gift tax limit is the maximum you can give someone without having to file a gift tax return with the IRS. The limit is $19,000 in 2025 ($38,000 if married).

The gift tax is any taxes owed on the gifts you have given. As the giver, you would owe the tax to the IRS and have to fill out a tax form. advertisement. GOBankingRates.

The end of the year is the season of giving, and where there are gifts, there's also the potential for gift tax. The U.S. tax laws impose gift tax on gifts of cash or property whose value exceeds ...

Few tax laws cause as much confusion as those that apply to the gift and estate tax, and 2014 is no different. Fortunately, the major changes in recent years have been to your advantage.

If someone gives you more than the annual gift tax exclusion amount — $15,000 in 2019 — the giver must file a gift tax return. That still doesn’t mean they owe gift tax.

Because the estate and gift tax exemption is currently pegged at $5.49 million and is indexed for inflation, most of us need not worry about having to cut a check to pay this tax.

The US tax code allows you to share your wealth with loved ones but only up to a certain amount. Changes in 2018 increased the amount but not permanently.

How much gift tax will my grandmother have to pay? Published: ; Nov. 21, 2006, 4:00 a.m.

2. Marital deduction. The gift tax laws allow married couples to transfer money and property between the two spouses freely. Therefore, you can generally give your spouse as much money or property ...

This means that an individual can give up to $18,000 in 2024 to as many people as they wish without incurring a gift tax. ... up to $36,000 per year to their children tax-free in the United States.

Scott Kaplowitch, a Boston tax accountant, recently counseled a couple on how to quickly help their daughter and son-in-law come up with money for a down payment on a new home.