Posts Tagged ‘Gift tax’

Does the donee of a gift ever have to pay gift tax?

  • November 13th, 2023
  • David Greene
  • Comments Off on Does the donee of a gift ever have to pay gift tax?

Unfortunately, the answer is sometimes yes. This happens if the donor does not pay the tax or properly file a gift tax return.  This usually happens when is deceased because that is usually the only situation where the IRS pursues…

Who has to pay gift tax – donor or recipient?

  • September 16th, 2021
  • David Greene
  • Comments Off on Who has to pay gift tax – donor or recipient?

That is a good question, with an easy answer. The receiver of the gift does not pay the gift tax.  The donor pays the tax.  However, anyone can give an individual a gift of money, property or any other asset…

When does the recipient of a gift have to pay the gift tax?

  • November 11th, 2020
  • David Greene
  • Comments Off on When does the recipient of a gift have to pay the gift tax?

The IRS may look to the recipient of the gift to pay the gift tax if the donor did not pay the tax.  Usually, the only situation where the IRS pursues the recipient of the gift is after the donor…

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