“The Internal Revenue Service is looking at land-transfer records state-by-state for evidence of people neglecting to report within-family real-estate gifts. This year, large family land gifts were popular because of a new tax rule that established $5 million as the amount someone can give in a lifetime before having to pay a gift tax. However, any property worth more than $13,000, gifted to one person, is still supposed to be reported to the IRS. To be precise, Form 709 reports U.S. gifts and generation-skipping transfer taxes.”
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Return Airport Security To The Airlines
A Powerful Legal Tool, and Its Potential for Abuse: Material Witness Orders
Senate Votes To Ban The Libertarian Party From Ohio Election
California Gold Rush county votes to secede and form state of ‘Jefferson’
NYC Apartment Rental Market; A Shoebox for $2,000 per Month
School district calls 12-year-old rape victim ‘negligent’ and ‘careless’ in her own abuse
He Could Bear Arms for the Government -- But Not For Himself
Glenn Greenwald: The 'both-sides-are-awful' dismissal of Gaza ignores the key role of the US governm...
Feinstein wants to limit who can be a journalist
Why South Africa's Currency Has Been Getting Destroyed
Mountain Man Arrested for Trying to Feed Himself
China-Russia gas deal creates Arctic winners and losers
Ghana arrests 124 Chinese citizens for illegal Gold mining
2014 will see the “Rise of the Short Sale”
Texas Gun Sales Are Off the Charts