Form 709 Archives

Knott Learning

2021 Gift Tax Exclusions – How Much Can You Give Away?

The IRS has recently updated the 2021 gift tax exclusion amounts. This article and video cover those 2021 exclusions and how much you can give away without having to file Form 709 gift tax return.

Jason Knott2024-08-05T13:07:44+00:00Tags: Estate Tax, Form 706, Form 709, Gift Tax, Inheritance Tax|

Who Pays Gift Taxes – Introduction to IRS Form 709 Reporting

The U.S. tax code requires taxpayers to disclose gifts which exceed the relevant threshold for the tax year. The Form 709 is used to disclose any reportable gifts during the year.

Jason Knott2024-08-05T13:08:07+00:00Tags: Estate Tax, Form 709, Gift Tax, GST|

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