Monday, December 24, 2012
Annual Gift tax Exclusion for 2013
The amount you can give to any donee in a calendar year without having to file a gift tax return goes up to $14,000 from $13,000 in 2013. The $14,000 is a cumulative amount for the year so you need to consider other gifts given during the year to see if you go over the total requiring a gift tax return.
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Nice Blog
ReplyDeleteDedicated to Finding the Tax Debt Solutions that Work for You
ReplyDeleteThe IRS usually charges a penalty of 0.5% on the total amount of the unpaid tax debt. At the most, the IRS can charge a 25% penalty on the total amount of the tax debt.