Most people will not owe federal gift tax in 2026. The IRS allows generous annual and lifetime exemptions, which means gift tax applies only to very large transfers made by high-net-worth ...

Forbes contributors publish independent expert analyses and insights. Admitted NY Bar and US Tax Court, covers US international tax law. IRS new Form 708 enforces a 40% transfer tax on U.S. recipients ...

Generous gifts can have tax consequences, but in general, only very wealthy people need to worry about gift taxes. Still, there could be IRS paperwork involved.

With the end of the year upon us and many people in the gift giving mood, I thought it would be a good time to discuss gift taxes. There is much confusion in the general public regarding gift taxes so ...