Gifts and Gift Taxes
In This Chapter
A gift is a thoughtful, sometimes simple, gesture. The Internal Revenue Service (IRS) may see it differently, though, and it can slap you or your estate with quite a tax. You might have done things differently if you had known the tax and estate ramifications of your generosity.
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How to Present a Gift
Legally, there are certain elements of giving that make a gift a gift, as far as your estate plan goes, and also with the IRS ...