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The U.S. generation-skipping transfer tax (a.k.a. "GST tax") imposes a tax on both outright gifts and transfers in trust to or for the benefit of unrelated persons who are more than 37.5 years younger than the donor or to related persons more than one generation younger than the donor, such as grandchildren. [1]
A gift tax, known originally as inheritance tax, is a tax imposed on the transfer of ownership of property during the giver's life. The United States Internal Revenue Service says that a gift is "Any transfer to an individual, either directly or indirectly, where full compensation (measured in money or money's worth) is not received in return."
Where allowed, such an endorsement gives the document the same weight as an affidavit, per 28 U.S.C. § 1746 [2] The document is called a sworn declaration or sworn statement instead of an affidavit, and the maker is called a "declarant" rather than an "affiant", but other than this difference in terminology, the two are treated identically by ...
For tax years 2018 and 2019, you may give someone cash or property valued at up to $15,000 without needing to fill out Form 709. The exclusion applies per person.
A couple has been arrested after authorities say they performed a botched circumcision on their son at their central Missouri home last week.. Prosecutors charged Tyler Wade Gibson, 35, with one ...
The coworker of a newly married woman says she used their recent company holiday party to swindle wedding gifts. After sharing a "sob story" about how she wasn't given enough money from her guests ...
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