Irs Gift Tax Rules 2024

Irs Gift Tax Rules 2024. If you exceed the annual gift tax limit, you may have to file a federal gift tax return (irs form 709). On or before april 15 of the calendar year following the year in which a gift is made, the individual making the gift must file a gift tax return (form 709, united states.

But exceeding the limit doesn’t necessarily result in owing tax, thanks to a high. The united states government imposes a gift tax on gifts of money and other property that exceed the annual gift tax limit of $18,000 in 2024.