http://www.MoneyMakingUtopia.com -Cash gifting is in the United States Internal Revenue Service (IRS) tax code and is a legal right. Cash gifting IRS falls in the category of Estate and Gifts and the income tax rules of associated with what the value of the gift was at the time it was given. Cash gifting exists within the IRS tax rules regarding an individuals Annual Exclusion limits for gifts and is why cash gifting is legal.
IRS Gift Definition:
A gift is a gratuitous transfer of value. Something is given, and nothing is received in return.
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