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Do You Have to Report that Gift to the IRS?

In Gift & Estate Tax by Zach SmithLeave a Comment

One of the greatest feelings in the world is to give another person a gift. But the giver (“donor”) needs to be aware that giving a gift may trigger tax-reporting requirements. In certain situations, the IRS requires a donor to report a gift and file a gift tax return. The donor, not the recipient (“donee”), is generally liable for any …