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re: Best Approach to Accepting Large Cash Gift? What should I do with it?
Posted on 2/8/16 at 2:12 pm to lsupride87
Posted on 2/8/16 at 2:12 pm to lsupride87
You're still wrong. If the donor doesn't pay the taxes, then the IRS will be coming after the donee.
eta: I will now bow out of the pissing contest in which I was correct
eta: I will now bow out of the pissing contest in which I was correct
This post was edited on 2/8/16 at 2:13 pm
3
Posted on 2/8/16 at 2:13 pm to TheOcean
quote:
If the donor doesn't pay the taxes, then the IRS will be coming after the donee.
You want to keep making up stuff? Posted on 2/8/16 at 2:14 pm to TheOcean
quote:
You're still wrong. If the donor doesn't pay the taxes, then the IRS will be coming after the donee.
???? That does not jive with this:
quote:
The donor is generally responsible for paying the gift tax. Under special arrangements the donee may agree to pay the tax instead. Please visit with your tax professional if you are considering this type of arrangement.
So where are you getting your info from?
Posted on 2/8/16 at 2:15 pm to TheOcean
quote:
You're still wrong. If the donor doesn't pay the taxes, then the IRS will be coming after the donee.
How would the IRS ever know about the gift? Serious question.
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