When a taxpayer signs a Form 709 reporting transfers subject to federal gift tax, he signs under penalties of perjury that he’s examined the return and, to the best of his knowledge, the return is ...

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 ...

In Private Letter Ruling 201523003 (released June 5, 2015), the Internal Revenue Service examined the effect of gift splitting under Internal Revenue Code Section 2513 and the application of the ...