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 appropriate amount of money to give a graduate depends on the level of degree they have completed. 1 Gifts for a Woman at the Age of 27. 2 Graduation Gift Ideas for Softball Players. 3 Gift Ideas for Your OB-GYN. 4 Retirement Gift Ideas for a Boss.