To: Laissez-faire capitalist
The person giving money in excess of 12K will have to file a gift tax return. I don’t believe the recipient of the gift is required to report it.
4 posted on
08/13/2008 4:01:31 PM PDT by
keepitreal
("I'm Barack Obama and I approve this message. . . until I don't.")
To: keepitreal
if the taxes are paid on money when it's made, the govt can tax it a second time if you give it away???
17 posted on
08/13/2008 5:01:37 PM PDT by
Chode
(American Hedonist - CTHULHU/NYARLATHOTEP'08 = Nothing LESS!!!)
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