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).
1 Faster refunds. 2  An e-filed tax return usually means a faster refund compared to a paper return. 3  The IRS issues most refunds in less than 21 days. 4  If you choose direct deposit, your refund goes directly into your bank account.5  Combining e-file with direct deposit is the fastest way to get your refund. Combining e-file with direct deposit is the fastest way to get your refund. 2  About three out of four taxpayers who file receive a tax refund. 3  Last year the average refund was about $2,700. 4  Payment options. 5  If you owe tax, you can e-file early and set an automatic payment date anytime on or before the April 15 due date.