Category Archives: Gift Tax

IRS Extends Estate & Gift Tax Returns to July 15th

Posted on March 27, 2020 by Russ

If you have to file an Estate Tax return (Form 706) or Gift Tax return (Form 709), the IRS announced today that those are being extended to July 15th. The details are in Notice 2020-20. Here is the legalese: The … Continue reading →

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When You Have to Report a Gift

Posted on December 2, 2008 by Russ

One question that I’m often asked are about gifts. I’ve just received a large gift or inheritance; must I pay tax on it? The good news is that gifts aren’t taxable to the recipient (if the gift is interest bearing, … Continue reading →

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An Affair in Tax Court

Posted on April 20, 2006 by Russ

The scene is the doctor’s office, where the doctor is romancing his patient. Just a little problem: the patient is married to a policeman. The policeman finds out and vows to sue the doctor, or get paid a large sum. … Continue reading →

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