Most people will not owe federal gift tax in 2026. The IRS allows generous annual and lifetime exemptions, which means gift tax applies only to very large transfers made by high-net-worth ...

As the holidays approach, many of us start thinking about meaningful ways to bless the lives of those we love. A wrapped present is thoughtful, but a well-planned financial gift can have an impact ...

The sky did not fall after all. For all the handwringing and prognostication, wealthy families (and their advisors) breathed a sigh of relief with the passage of the One Big Beautiful Bill Act (OBBBA) ...

Dear Liz: You wrote that people could contribute up to five times the annual gift tax exclusion to a 529 college savings plan without having to file a gift tax return. That is incorrect. People can ...

Every year, the Internal Revenue Service (IRS) and the New York Department of Taxation and Finance (the Department) update the monetary thresholds applicable to estate, gift and generation-skipping ...

The recently enacted One Big Beautiful Bill Act (OBBBA) brings sweeping and permanent changes to the federal estate, gift and generation-skipping transfer (GST) tax landscape. Most notably, it ...

Want to get on someone’s good side? Help them out financially? Or, perhaps, just make them really happy? Give ‘em a gift! (Cash is always nice.) But if you’re in a gift-giving mood, and you have a lot ...

Forbes contributors publish independent expert analyses and insights. Admitted NY Bar and US Tax Court, covers US international tax law. IRS new Form 708 enforces a 40% transfer tax on U.S. recipients ...