IRS Tax Tip 2012-64, April 3, 2012. If you owe tax with your federal tax return, but can't afford to pay it all when you file, the IRS wants you to know your options and help you keep interest and penalties to a minimum.
The amount spent by each individual on graduation gifts also hit a new high this year, rising from a tick under $98 last year to $102.50 this year, and the average graduation gift-giver is shopping for two people â so those new grads will have to share the wealth.
The State of Georgia sponsors a flagship gift aid package called the HOPE Scholarship and Grant program. HOPE, which stands for Helping Outstanding Students Educationally, has given out, on average, over $331,000,000 per year since its inception in 1993, which is very generous indeed.