Douglas Sacha / Getty Images A gift letter is a piece of legal, written correspondence explicitly stating that money received ... according to the Internal Revenue Service (IRS).

Unless your income was derived without a W-2 being issued or you lied, there is little chance of an audit. You simply can’t cheat. The main concern of Republicans is the lower end of the richer ...

A gift letter for a mortgage ... be gift tax implications. The IRS’s annual exclusion for gifted amounts maxes out at $19,000 in 2025. The person gifting the money may need to file a gift ...

If you don't have the down payment money ... The gift letter may allow the donor to avoid paying a hefty federal gift tax on the transfer. Without the letter, the IRS could tax the donor for ...

Hard to imagine anyone just ignoring an IRS letter that ... crooks to steal refund cash by using identity theft to file fake tax returns. If you think you received a letter but cannot find it ...

Crouch even called the number on the letter. The man on the other end wanted money immediately, which is not how the IRS would handle that. "They're going to want you to enter into some sort of ...

And if you're missing money, you want to pay even more attention. The Internal Revenue Service began issuing what it calls Letter 6475 late in January. It's a letter that offers details about ...

“This letter will explain how to contact the IRS and make arrangements to resolve your tax bill.” If you do owe money to the IRS, you may be eligible to get penalties waived under certain ...

A gift you receive is not subject ... it can seem tempting to try to characterize money or property you receive as gifts. But be careful: the IRS hears this excuse a lot, and is unlikely to ...

The Congressional Budget Office reports that for every dollar spent to bring in a new IRS agent, $5 to $9 more will be generated. Stay vigilant. Joseph DantasUnion Township ...

Beware Republicans bearing gifts. Republicans want to make the new year a friendlier time for taxpayers by reducing the number of IRS auditors. It seems our biggest concern in life is the fear of ...