The return (Form 709) is due on or before April 15 following the close of the calendar year for which the return is made; however, if the donor is given an extension of time for filing the income tax ...

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 ...

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 ...

Estate planning for high net worth individuals often involves the lifetime gratuitous transfer of assets to family members or trusts for their benefit. Oftentimes these gifts should, and in some cases ...

Forbes contributors publish independent expert analyses and insights. Bob Carlson researches all facets of retirement finances. Gift tax returns could be the most misunderstood, neglected, and ...

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 ...

Some clients and their advisors may think it’s okay to use a 409A Valuation Report for a gift or estate filing. While they may get away with it if there’s no audit, it’s not advisable. Section 409A ...

Beginning this year, estate and gift tax returns have new filing locations, according to the instructions for Form 706 and Form 709. As of June 30, 2019, estate tax returns (Forms 706) filed using the ...