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 give someone cash or property valued at more than the 2023 annual exclusion limit of $17,000 ($34,000 for married joint filers), you'll have to fill out Form 709 for gift tax purposes. But ...

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 ...

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 ...

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 ...