What are the federal gift-tax limits?

Answer The IRS defines a gift as property given by one individual to another while receiving less than its value, or nothing, in return. A gift can be money, real estate or other items of value. Gift tax ... Read More »

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What Are the Filing Limits for Federal Income Taxes?

If you are a citizen or resident alien, you must file a federal income tax return if your income exceeds certain limits. All income, regardless of whether it was actively or passively earned and re... Read More »

What does Della sell to be able to buy a gift for her husband in O. Henry's"The Gift of the Magi"?

In the O. Henry story "The Gift of the Magi," Della sells her hair to buy a chain for her husband's watch. But when Della gives Jim the chain, she discovers that he has sold his watch in order to b... Read More »

What percentage of federal revenues is derived from federal estate tax?

According to the Tax Foundation, the estate tax does not comprise much of the federal revenue. The amount will vary on a yearly basis, but the percentage is usually between 1 and 2 percent of the f... Read More »

What is the federal tax form number of filing federal tax info for not for profit home owners association?

The form number depends on variables within the association's business structure, there are a few different forms. Your tax attorney can help you understand exactly which form to use based on your ... Read More »