What's the best tax-free way to give someone money?

While I agree with what Attorney Carter said, I'd like to add that a common misconception in terms of the gift tax is that many people believe that...

I claimed three dependants on my taxes, I only have one. How do I rectify this?

The simple answer is that you should file an amended 1040 listing only one dependent, and you should include a check reflecting the difference in...

Ms. Brewer seems to be correct. Assuming the total value of the interest transferred from your sister to your husband is less than $5 million, you...

My mother is 78 years old. She receives 1350. a month from SS. She has a IRA for a little over 8000..

Please refer to this IRS publication for information regarding tax implications of Social Security Benefits received in conjunction with other...

About dependents claimed on the 1040, must the dependent be related to the taxpayer by blood, adoption, or marriage?

To claim a person as a dependent, he or she must be either a qualifying child or a qualifying relative. See below: You are allowed one exemption...

Received a decree of divorce in Oct 2010. What is my tax filing status for 2010?

For Federal Tax Purposes, per IRS.gov, you are considered unmarried for the whole year if, on the last day of your tax year, you are unmarried or...