gift tax

noun

1. a tax imposed on the transfer of money or property from one living person to another by gift, payable by the donor.

gift tax

noun

1. another name for (the former) capital transfer tax

Example Sentences

You would only be liable for gift tax if you went over the Internal Revenue Service’s gift-tax limit.

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Individuals can make lifetime gifts, outright or in irrevocable trusts, up to that amount without incurring federal estate or gift tax.

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Another way married people can benefit from 529 plan tax benefits is with the federal gift tax exclusion.

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In 2020, a law firm found that Mr. Epstein’s work had saved Mr. Black and his four children $2 billion in estate and gift taxes.

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One focus of the investigations is whether Crow disclosed his generosity toward Thomas to the IRS, since large gifts are subject to the gift tax.

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