Down payment amounts above $19,000 and received as a gift must be reported on a gift tax return by the person making the gift—not the beneficiary. But that doesn't mean the donor will pay taxes. "The ...

My brother and I want to do the right thing for our younger brother and give him an equal share from our inheritance. I know most states don’t have inheritance taxes, but since he won’t technically be ...

Regular Ulips’ maturity proceeds attract tax if their annual premiums exceed Rs 2.5 lakh. However, Budget 2025 has granted a ...

If a taxpayer misses the filing deadline, the IRS may impose significant penalties (up to 25% of the amount of the foreign gift or inheritance received).

The IRS officially starts accepting tax returns Monday, and scammers will be ready trying to get your information.

How much money can I give to my son and daughter-in-law without incurring a tax issue with the IRS? -Irwin For 2023, you can give your son and daughter-in-law each $17,000 without having to deal with ...

US stocks ended lower on Friday, with indexes losing ground after the White House said U.S. President Donald Trump will ...

I have a large amount of fabric to donate. Are there any charities that hold fabric sales? — Barbara, Rumford ANSWER: I don’t know of any nonprofit organizations that hold specific fabric sales.

President Trump's tax returns have resulted in a years-long audit ... "Frequently Asked Questions on Gift Taxes," Select "Who pays the gift tax?" and "How many annual exclusions are available?" ...

Additionally, if you choose to put your refund on an Amazon gift card, you’ll end up getting ... and last year’s personal tax return. You can also import info from Turbo Tax and Quicken ...

ITAT Ahmedabad held that additions under section 68 of the Income Tax Act is not sustainable since assessee established identity, genuineness and creditworthiness of the lenders. Accordingly, addition ...

Many crypto investors have seen gains stretching above their capital gains tax allowance making them liable to the taxman.