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.
An online coupon site called RetailMeNot.com asked people the appropriate amount to give. Here Are The Average Results: High school graduation . . . $111. College graduation . . . $243. Graduate school graduation . . . $256. The survey also found the average undergrad now finishes school with around $14,000 in debt.