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To: fulltlt

does this mean he doesn’t have to pay any more ? oh wait, he’s being sued for the rest.
did the person who received the money have to report it to the IRS ?


11 posted on 04/27/2016 9:19:02 AM PDT by stylin19a
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To: stylin19a
did the person who received the money have to report it to the IRS ?

Normally one giving the "gift" is responsible for paying the gift taxes if any is due. The lifetime exemption is over $5M, so he probably doesn't owe any taxes. However, Hastert should have reported the gift if it exceeded the yearly amount of ~$14K. It would seem to me if Hastert doesn't claim blackmail, then it is a gift.

31 posted on 04/27/2016 10:10:35 AM PDT by EVO X
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