Tax laws allow you to receive a gift up to $14K from an individual without having to pay taxes on it. I've done that for others, without them having to report it to IRS.
“Tax laws allow you to receive a gift up to $14K from an individual without having to pay taxes on it.”
You can give & receive a lot more than $14K without taxes.
“If you gift more than the exclusion to a recipient, you will need to file tax forms to disclose those gifts to the IRS. You may also have to pay taxes on it. If that’s the case, the tax rates range from 18% up to 40%. However, you won’t have to pay any taxes as long as you haven’t hit the lifetime gift tax exemption.
The Lifetime Gift Tax Exemption
Most taxpayers won’t ever pay gift tax because the IRS allows you to gift up to $11.58 million over your lifetime without having to pay gift tax. This is the lifetime gift tax exemption, and it’s roughly $180,000 higher than it was in 2019.
So let’s say that in 2020 you gift $215,000 to your friend. This gift is $200,000 over the annual gift exclusion. That means you will need to report it to the IRS. However, you won’t immediately have to pay tax on that gift. Instead, the IRS deducts that $200,000 from your lifetime gift tax exemption. Assuming you have never made any other gifts over the annual exemption, your remaining lifetime exemption is now $11.38 million ($11.58 million minus $200,000).”
https://smartasset.com/retirement/gift-tax-limits