The Internal Revenue Service (IRS) has its hand out for tax dollars associated with your generosity, but there are tax-smart loopholes.

The five-year rule allows a person to use five years’ worth of gifts (at the current $19,000 annual exclusion) in one year, amounting to $95,000, without triggering the need for IRS Form 709 ...

The gift tax is any taxes owed on the gifts you have given. As the giver, you would owe the tax to the IRS and have to fill out a tax form.

Tax Day is Tuesday, April 15. Here are the things you need to know if you aren't ready to file or pay what you owe so you can avoid costly penalties.

Learn how to file your crypto taxes in the US for the 2024–2025 season. Understand IRS rules, reporting requirements and deductions to stay compliant.

The IRS provides a list of where to file Form 7004 on its website . What Happens After Filing? Once filed, Form 7004 is automatically approved unless the IRS contacts the filer to deny the extension.

A federal tax form that must be filled out by any individual who gives a gift that exceeds the annual exempt gift amount.

Explore how to give cryptocurrency as a gift. Learn about the best methods, tax implications, and how to make your gift valuable and secure.