In 2015, a taxpayer can give up to $14,000 per person per year without being taxed on the gift. For example, this year you could give Friend A $14,000, Friend B $14,000, and your sister $14,000 and not be taxed on your gifts.lso, another way for parents to avoid the gift tax is to remember that each parent is entitled to their own individual $14,000 exclusion. This means that your mother and father could each give you $14,000 this year â for a total of $28,000 â without being taxed on that gift.
The IRS erroneous refund revival theory would allow the IRS to administratively collect all $2,000 of the erroneous refund to Alex, $4,000 of the $7,000 erroneous refund to Blair, and $4,000 from Cody (the $2,000 erroneous refund and the $2,000 unpaid on the original assessment).
I have efiled my tax return. Your efile has to be accepted by the IRS before your refund is processed. The complete efile cycle typically takes 24-72 hours. If your return is rejected for any reason and you need to revise and resubmit, the efile cycle will repeat.Once your return is accepted, if you chose Direct Deposit, your refund should be deposited into your account in about 2-3 weeks.If you chose to receive a paper check, the IRS needs to print and mail it. In this case your check may take 2-3 weeks longer to arrive.State refund cycles vary by state. have efiled my tax return. Your efile has to be accepted by the IRS before your refund is processed. The complete efile cycle typically takes 24-72 hours. If your return is rejected for any reason and you need to revise and resubmit, the efile cycle will repeat.