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Free Amended Tax Return

Software To File 1040nrE File Amended Return2012 Schedule A Tax Form1040x Amended Return Form2010 Form 1040 EzTaxact Login Tax Return Taxact Login PageHow Can I File My 2011 Taxes For FreeFree E-file 1040ezIrs Form 1040 Ez Instructions2012 Tax Preparation1040ezFiling 1040ez FormFiling 2012 TaxesFree Taxact 2011Amended FormFree TaxesCan I Efile 1040nrFree 1040x SoftwareWww Irs Gov Free FileFree E File State Taxes OnlyFiling Federal And State Taxes For FreeTurbotax Military DiscountH&r Block State Tax FeeWhere Can I File 2012 Taxes Online FreeH & R Block Taxes For Free1040easy2011 E FileHow To File An AmendmentFile Taxes 2012Turbotax 2011Free TaxState Tax Return FreeFree 2010 TurbotaxH&r Block Tax CutFree State Tax Preparation And FilingI Want To File My 2012 Taxes OnlineTax Forms For 2012Form 1040x For 2012File Taxes Online Free 2011Filing 1040x With Form 982

Free Amended Tax Return

Free amended tax return Part One -   The Income Tax Return The four chapters in this part provide basic information on the tax system. Free amended tax return They take you through the first steps of filling out a tax return—such as deciding what your filing status is, how many exemptions you can take, and what form to file. Free amended tax return They also discuss recordkeeping requirements, IRS e-file (electronic filing), certain penalties, and the two methods used to pay tax during the year: withholding and estimated tax. Free amended tax return Table of Contents 1. Free amended tax return   Filing InformationWhat's New Reminders Introduction Do I Have To File a Return?Individuals—In General Dependents Certain Children Under Age 19 or Full-Time Students Self-Employed Persons Aliens Who Should File Which Form Should I Use?Form 1040EZ Form 1040A Form 1040 Does My Return Have To Be on Paper?IRS e-file When Do I Have To File?Private delivery services. Free amended tax return Extensions of Time To File How Do I Prepare My Return?When Do I Report My Income and Expenses? Social Security Number (SSN) Presidential Election Campaign Fund Computations Attachments Third Party Designee Signatures Paid Preparer Refunds Amount You Owe Gift To Reduce Debt Held by the Public Name and Address Where Do I File? What Happens After I File?What Records Should I Keep? Why Keep Records? Kinds of Records to Keep Basic Records How Long to Keep Records Refund Information Interest on Refunds Change of Address What If I Made a Mistake?Amended Returns and Claims for Refund Penalties Identity Theft 2. Free amended tax return   Filing StatusWhat's New Introduction Useful Items - You may want to see: Marital StatusDivorced persons. Free amended tax return Divorce and remarriage. Free amended tax return Annulled marriages. Free amended tax return Head of household or qualifying widow(er) with dependent child. Free amended tax return Considered married. Free amended tax return Same-sex marriage. Free amended tax return Spouse died during the year. Free amended tax return Married persons living apart. Free amended tax return Single Married Filing JointlyFiling a Joint Return Married Filing SeparatelySpecial Rules Head of HouseholdConsidered Unmarried Keeping Up a Home Qualifying Person Qualifying Widow(er) With Dependent Child 3. Free amended tax return   Personal Exemptions and DependentsWhat's New Introduction Useful Items - You may want to see: ExemptionsPersonal Exemptions Exemptions for Dependents Qualifying Child Qualifying Relative Phaseout of Exemptions Social Security Numbers for DependentsBorn and died in 2013. Free amended tax return Taxpayer identification numbers for aliens. Free amended tax return Taxpayer identification numbers for adoptees. Free amended tax return 4. Free amended tax return   Tax Withholding and Estimated TaxWhat's New for 2014 Reminders Introduction Useful Items - You may want to see: Tax Withholding for 2014Salaries and Wages Tips Taxable Fringe Benefits Sick Pay Pensions and Annuities Gambling Winnings Unemployment Compensation Federal Payments Backup Withholding Estimated Tax for 2014Who Does Not Have To Pay Estimated Tax Who Must Pay Estimated Tax How To Figure Estimated Tax When To Pay Estimated Tax How To Figure Each Payment How To Pay Estimated Tax Credit for Withholding and Estimated Tax for 2013Withholding Estimated Tax Underpayment Penalty for 2013 Prev  Up  Next   Home   More Online Publications
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SOI Tax Stats - Gift Tax Statistics

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What is the Federal Gift Tax?


 

The Federal gift tax is a tax on the right to transfer property from a living person to other persons or trusts. Reported on Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return, data are collected on the donor and recipient of gifts that exceed the annual exclusion. The name of the recipient, recipient's relationship to the donor, type of property, and value of gift are reported, as are the total value of a donor's lifetime gifts and tax computation items.

For information about selected terms and concepts and a description of the data sources and limitations, please visit Gift Tax Study Metadata.

 


 

Statistical Tables

Total Gifts of Donor, Total Gifts, Deductions, Credits, and Net Gift Tax

 

 


SOI Bulletin Articles

These articles are in .PDF format.  Adobe Acrobat® reader

 

2009 Gifts
This article presents data on gifts made during 2009. Donors filed a total of 223,093 returns for 2009, reporting a total of $$37.9 billion in assets transferred to 867,507 donees, primarily children and grandchildren.

2008 Gifts
This article presents data on gifts made during 2008. Donors filed a total of 234,714 returns for 2008, reporting a total of $40.2 billion in assets transferred to 927,554 donees, primarily children and grandchildren.

2007 Gifts
This article describes gifts made during calendar year 2007.  There were a total of 257,485 gift tax returns filed in 2008.  247,932 returns, or 96.3 percent, were nontaxable.  The remaining 9,553 (3.7 percent) were taxable.

Wealth Transfers, 2005 Gifts

This article describes gifts made during calendar year 2005.  A total of $38.5 billion in assets was transferred from donors to donees, or gift recipients.  Only 2.9 percent of returns were taxable, with $1.7 billion in gift tax liability reported.

 

Inter Vivos Wealth Transfers, 1997 Gifts
This article describes gifts made during calendar year 1997.  Like transfers of wealth at death, wealth transfers during life—called inter vivos wealth transfers—are subject to Federal taxation.  Only individual gifts in excess of $10,000 were potentially taxable for Gift Year 1997.

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Page Last Reviewed or Updated: 21-Oct-2013

The Free Amended Tax Return

Free amended tax return 2. Free amended tax return   Employees' Pay Table of Contents Introduction Topics - This chapter discusses: Useful Items - You may want to see: Tests for Deducting PayTest 1—Reasonableness Test 2—For Services Performed Kinds of PayAwards Bonuses Education Expenses Fringe Benefits Loans or Advances Property Reimbursements for Business Expenses Sick and Vacation Pay Introduction You can generally deduct the amount you pay your employees for the services they perform. Free amended tax return The pay may be in cash, property, or services. Free amended tax return It may include wages, salaries, bonuses, commissions, or other non-cash compensation such as vacation allowances and fringe benefits. Free amended tax return For information about deducting employment taxes, see chapter 5. Free amended tax return You can claim employment credits, such as the following, if you hire individuals who meet certain requirements. Free amended tax return Empowerment zone employment credit (Form 8844). Free amended tax return Indian employment credit (Form 8845). Free amended tax return Work opportunity credit (Form 5884). Free amended tax return Credit for employer differential wage payments (Form 8932). Free amended tax return Reduce your deduction for employee wages by the amount of employment credits you claim. Free amended tax return For more information about these credits, see the form on which the credit is claimed. Free amended tax return Topics - This chapter discusses: Tests for deducting pay Kinds of pay Useful Items - You may want to see: Publication 15 (Circular E), Employer's Tax Guide 15-A Employer's Supplemental Tax Guide 15-B Employer's Tax Guide to Fringe Benefits See chapter 12 for information about getting publications and forms. Free amended tax return Tests for Deducting Pay To be deductible, your employees' pay must be an ordinary and necessary business expense and you must pay or incur it. Free amended tax return These and other requirements that apply to all business expenses are explained in chapter 1. Free amended tax return In addition, the pay must meet both of the following tests. Free amended tax return Test 1. Free amended tax return It must be reasonable. Free amended tax return Test 2. Free amended tax return It must be for services performed. Free amended tax return The form or method of figuring the pay does not affect its deductibility. Free amended tax return For example, bonuses and commissions based on sales or earnings, and paid under an agreement made before the services were performed, are both deductible. Free amended tax return Test 1—Reasonableness You must be able to prove that the pay is reasonable. Free amended tax return Whether the pay is reasonable depends on the circumstances that existed when you contracted for the services, not those that exist when reasonableness is questioned. Free amended tax return If the pay is excessive, the excess pay is disallowed as a deduction. Free amended tax return Factors to consider. Free amended tax return   Determine the reasonableness of pay by the facts and circumstances. Free amended tax return Generally, reasonable pay is the amount that a similar business would pay for the same or similar services. Free amended tax return   To determine if pay is reasonable, also consider the following items and any other pertinent facts. Free amended tax return The duties performed by the employee. Free amended tax return The volume of business handled. Free amended tax return The character and amount of responsibility. Free amended tax return The complexities of your business. Free amended tax return The amount of time required. Free amended tax return The cost of living in the locality. Free amended tax return The ability and achievements of the individual employee performing the service. Free amended tax return The pay compared with the gross and net income of the business, as well as with distributions to shareholders if the business is a corporation. Free amended tax return Your policy regarding pay for all your employees. Free amended tax return The history of pay for each employee. Free amended tax return Test 2—For Services Performed You must be able to prove the payment was made for services actually performed. Free amended tax return Employee-shareholder salaries. Free amended tax return   If a corporation pays an employee who is also a shareholder a salary that is unreasonably high considering the services actually performed, the excessive part of the salary may be treated as a constructive dividend to the employee-shareholder. Free amended tax return The excessive part of the salary would not be allowed as a salary deduction by the corporation. Free amended tax return For more information on corporate distributions to shareholders, see Publication 542, Corporations. Free amended tax return Kinds of Pay Some of the ways you may provide pay to your employees in addition to regular wages or salaries are discussed next. Free amended tax return For specialized and detailed information on employees' pay and the employment tax treatment of employees' pay, see Publications 15, 15-A, and 15-B. Free amended tax return Awards You can generally deduct amounts you pay to your employees as awards, whether paid in cash or property. Free amended tax return If you give property to an employee as an employee achievement award, your deduction may be limited. Free amended tax return Achievement awards. Free amended tax return   An achievement award is an item of tangible personal property that meets all the following requirements. Free amended tax return It is given to an employee for length of service or safety achievement. Free amended tax return It is awarded as part of a meaningful presentation. Free amended tax return It is awarded under conditions and circumstances that do not create a significant likelihood of disguised pay. Free amended tax return Length-of-service award. Free amended tax return    An award will qualify as a length-of-service award only if either of the following applies. Free amended tax return The employee receives the award after his or her first 5 years of employment. Free amended tax return The employee did not receive another length-of-service award (other than one of very small value) during the same year or in any of the prior 4 years. Free amended tax return Safety achievement award. Free amended tax return    An award for safety achievement will qualify as an achievement award unless one of the following applies. Free amended tax return It is given to a manager, administrator, clerical employee, or other professional employee. Free amended tax return During the tax year, more than 10% of your employees, excluding those listed in (1), have already received a safety achievement award (other than one of very small value). Free amended tax return Deduction limit. Free amended tax return   Your deduction for the cost of employee achievement awards given to any one employee during the tax year is limited to the following. Free amended tax return $400 for awards that are not qualified plan awards. Free amended tax return $1,600 for all awards, whether or not qualified plan awards. Free amended tax return   A qualified plan award is an achievement award given as part of an established written plan or program that does not favor highly compensated employees as to eligibility or benefits. Free amended tax return   A highly compensated employee is an employee who meets either of the following tests. Free amended tax return The employee was a 5% owner at any time during the year or the preceding year. Free amended tax return The employee received more than $115,000 in pay for the preceding year. Free amended tax return You can choose to ignore test (2) if the employee was not also in the top 20% of employees ranked by pay for the preceding year. Free amended tax return   An award is not a qualified plan award if the average cost of all the employee achievement awards given during the tax year (that would be qualified plan awards except for this limit) is more than $400. Free amended tax return To figure this average cost, ignore awards of nominal value. Free amended tax return Deduct achievement awards as a nonwage business expense on your return or business schedule. Free amended tax return You may not owe employment taxes on the value of some achievement awards you provide to an employee. Free amended tax return See Publication 15-B. Free amended tax return Bonuses You can generally deduct a bonus paid to an employee if you intended the bonus as additional pay for services, not as a gift, and the services were performed. Free amended tax return However, the total bonuses, salaries, and other pay must be reasonable for the services performed. Free amended tax return If the bonus is paid in property, see Property , later. Free amended tax return Gifts of nominal value. Free amended tax return    If, to promote employee goodwill, you distribute food or merchandise of nominal value to your employees at holidays, you can deduct the cost of these items as a nonwage business expense. Free amended tax return Your deduction for de minimis gifts of food or drink are not subject to the 50% deduction limit that generally applies to meals. Free amended tax return For more information on this deduction limit, see Meals and lodging , later. Free amended tax return Education Expenses If you pay or reimburse education expenses for an employee, you can deduct the payments if they are part of a qualified educational assistance program. Free amended tax return Deduct them on the “Employee benefit programs” or other appropriate line of your tax return. Free amended tax return For information on educational assistance programs, see Educational Assistance in section 2 of Publication 15-B. Free amended tax return Fringe Benefits A fringe benefit is a form of pay for the performance of services. Free amended tax return You can generally deduct the cost of fringe benefits. Free amended tax return You may be able to exclude all or part of the value of some fringe benefits from your employees' pay. Free amended tax return You also may not owe employment taxes on the value of the fringe benefits. Free amended tax return See Table 2-1, Special Rules for Various Types of Fringe Benefits, in Publication 15-B for details. Free amended tax return Your deduction for the cost of fringe benefits for activities generally considered entertainment, amusement, or recreation, or for a facility used in connection with such an activity (for example, a company aircraft) for certain officers, directors, and more-than-10% shareholders is limited. Free amended tax return Certain fringe benefits are discussed next. Free amended tax return See Publication 15-B for more details on these and other fringe benefits. Free amended tax return Meals and lodging. Free amended tax return   You can usually deduct the cost of furnishing meals and lodging to your employees. Free amended tax return Deduct the cost in whatever category the expense falls. Free amended tax return For example, if you operate a restaurant, deduct the cost of the meals you furnish to employees as part of the cost of goods sold. Free amended tax return If you operate a nursing home, motel, or rental property, deduct the cost of furnishing lodging to an employee as expenses for utilities, linen service, salaries, depreciation, etc. Free amended tax return Deduction limit on meals. Free amended tax return   You can generally deduct only 50% of the cost of furnishing meals to your employees. Free amended tax return However, you can deduct the full cost of the following meals. Free amended tax return Meals whose value you include in an employee's wages. Free amended tax return Meals that qualify as a de minimis fringe benefit as discussed in section 2 of Publication 15-B. Free amended tax return This generally includes meals you furnish to employees at your place of business if more than half of these employees are provided the meals for your convenience. Free amended tax return Meals you furnish to your employees at the work site when you operate a restaurant or catering service. Free amended tax return Meals you furnish to your employees as part of the expense of providing recreational or social activities, such as a company picnic. Free amended tax return Meals you are required by federal law to furnish to crew members of certain commercial vessels (or would be required to furnish if the vessels were operated at sea). Free amended tax return This does not include meals you furnish on vessels primarily providing luxury water transportation. Free amended tax return Meals you furnish on an oil or gas platform or drilling rig located offshore or in Alaska. Free amended tax return This includes meals you furnish at a support camp that is near and integral to an oil or gas drilling rig located in Alaska. Free amended tax return Employee benefit programs. Free amended tax return   Employee benefit programs include the following. Free amended tax return Accident and health plans. Free amended tax return Adoption assistance. Free amended tax return Cafeteria plans. Free amended tax return Dependent care assistance. Free amended tax return Education assistance. Free amended tax return Life insurance coverage. Free amended tax return Welfare benefit funds. Free amended tax return   You can generally deduct amounts you spend on employee benefit programs on the applicable line of your tax return. Free amended tax return For example, if you provide dependent care by operating a dependent care facility for your employees, deduct your costs in whatever categories they fall (utilities, salaries, etc. Free amended tax return ). Free amended tax return Life insurance coverage. Free amended tax return   You cannot deduct the cost of life insurance coverage for you, an employee, or any person with a financial interest in your business, if you are directly or indirectly the beneficiary of the policy. Free amended tax return See Regulations section 1. Free amended tax return 264-1 for more information. Free amended tax return Welfare benefit funds. Free amended tax return   A welfare benefit fund is a funded plan (or a funded arrangement having the effect of a plan) that provides welfare benefits to your employees, independent contractors, or their beneficiaries. Free amended tax return Welfare benefits are any benefits other than deferred compensation or transfers of restricted property. Free amended tax return   Your deduction for contributions to a welfare benefit fund is limited to the fund's qualified cost for the tax year. Free amended tax return If your contributions to the fund are more than its qualified cost, carry the excess over to the next tax year. Free amended tax return   Generally, the fund's “qualified cost” is the total of the following amounts, reduced by the after-tax income of the fund. Free amended tax return The cost you would have been able to deduct using the cash method of accounting if you had paid for the benefits directly. Free amended tax return The contributions added to a reserve account that are needed to fund claims incurred but not paid as of the end of the year. Free amended tax return These claims can be for supplemental unemployment benefits, severance pay, or disability, medical, or life insurance benefits. Free amended tax return   For more information, see sections 419(c) and 419A of the Internal Revenue Code and the related regulations. Free amended tax return Loans or Advances You generally can deduct as wages an advance you make to an employee for services performed if you do not expect the employee to repay the advance. Free amended tax return However, if the employee performs no services, treat the amount you advanced as a loan. Free amended tax return If the employee does not repay the loan, treat it as income to the employee. Free amended tax return Below-market interest rate loans. Free amended tax return   On certain loans you make to an employee or shareholder, you are treated as having received interest income and as having paid compensation or dividends equal to that interest. Free amended tax return See Below-Market Loans in chapter 4. Free amended tax return Property If you transfer property (including your company's stock) to an employee as payment for services, you can generally deduct it as wages. Free amended tax return The amount you can deduct is the property's fair market value on the date of the transfer less any amount the employee paid for the property. Free amended tax return You can claim the deduction only for the tax year in which your employee includes the property's value in income. Free amended tax return Your employee is deemed to have included the value in income if you report it on Form W-2, Wage and Tax Statement, in a timely manner. Free amended tax return You treat the deductible amount as received in exchange for the property, and you must recognize any gain or loss realized on the transfer, unless it is the company's stock transferred as payment for services. Free amended tax return Your gain or loss is the difference between the fair market value of the property and its adjusted basis on the date of transfer. Free amended tax return These rules also apply to property transferred to an independent contractor for services, generally reported on Form 1099-MISC, Miscellaneous Income. Free amended tax return Restricted property. Free amended tax return   If the property you transfer for services is subject to restrictions that affect its value, you generally cannot deduct it and do not report gain or loss until it is substantially vested in the recipient. Free amended tax return However, if the recipient pays for the property, you must report any gain at the time of the transfer up to the amount paid. Free amended tax return    “Substantially vested” means the property is not subject to a substantial risk of forfeiture. Free amended tax return This means that the recipient is not likely to have to give up his or her rights in the property in the future. Free amended tax return Reimbursements for Business Expenses You can generally deduct the amount you pay or reimburse employees for business expenses incurred for your business. Free amended tax return However, your deduction may be limited. Free amended tax return If you make the payment under an accountable plan, deduct it in the category of the expense paid. Free amended tax return For example, if you pay an employee for travel expenses incurred on your behalf, deduct this payment as a travel expense. Free amended tax return If you make the payment under a nonaccountable plan, deduct it as wages and include it in the employee's Form W-2. Free amended tax return See Reimbursement of Travel, Meals, and Entertainment in chapter 11 for more information about deducting reimbursements and an explanation of accountable and nonaccountable plans. Free amended tax return Sick and Vacation Pay Sick pay. Free amended tax return   You can deduct amounts you pay to your employees for sickness and injury, including lump-sum amounts, as wages. Free amended tax return However, your deduction is limited to amounts not compensated by insurance or other means. Free amended tax return Vacation pay. Free amended tax return   Vacation pay is an employee benefit. Free amended tax return It includes amounts paid for unused vacation leave. Free amended tax return You can deduct vacation pay only in the tax year in which the employee actually receives it. Free amended tax return This rule applies regardless of whether you use the cash or accrual method of accounting. Free amended tax return Prev  Up  Next   Home   More Online Publications