Video – Form 709 – How Gifts are Taxed

by Lance Morris
Jun 7, 2021
us global tax gift tax nz australia irs

For most, it may seem logical that upon receiving a gift, you may end up with a tax liability, this is not the case with regards to US taxation.

In the US, gifts are taxed to the person making the gift, rather than the recipient. But even then, large exclusions exist which make tax upon gifts a rarity.

Learn more in our video below: