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…
Can the IRS force the recipient of a gift to pay the gift tax when the donor does not?
- December 6th, 2016
- David Greene
- Comments Off on Can the IRS force the recipient of a gift to pay the gift tax when the donor does not?
When the donor of a large gift does not pay the gift tax owed, the IRS can seek to have the tax paid by the donee. This usually occurs in the situation where the donor has died without paying the…