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Blog - NOT FILING A GIFT TAX RETURN CAN COME BACK AND BITE YOUR DONER, GIFT TAXES CAN BE ASSESSED AT ANY TIME

The IRS generally has three years after the Form 709 is filed to go after the donor for additional gift taxes. However, if a gift tax return is not filed, the statute of limitations remains open indefinitely. Here, a donor who made gifts in each of... read more

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