Birdwatch Note Rating
2023-05-06 03:29:34 UTC - HELPFUL
Rated by Participant: D69C49B7AB0B4BDEDF3D65CDD751B6218D41EA6BDEF51AE45479F3283F1302F3
Participant Details
Original Note:
The IRS makes it clear that reporting and paying gift taxes is the responsibility of the donor (person making the gift), not the recipient of the gift. https://www.irs.gov/pub/irs-news/at-01-31.pdf https://www.irs.gov/faqs/interest-dividends-other-types-of-income/gifts-inheritances/gifts-inheritances-1 Tuition payments are completely exempted from gift taxes by federal law - 26 USC ยง 2503(e) https://www.law.cornell.edu/uscode/text/26/2503
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