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T/M ×0725 Date: October 29, 2007TRANSMITTAL MEMORANDUMDEPARTMENT OF REVENUE MULTIPURPOSE: This transmittal memorandum contains changes to Department of Revenue Rules.CONTENTS: Severance Taxes and
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TM 07-25 is a form used for reporting taxable gifts made during the tax year.
Taxpayers who have made taxable gifts during the tax year are required to file TM 07-25.
TM 07-25 can be filled out by providing information about the taxable gifts made during the tax year, including the value of the gifts and any deductions claimed.
The purpose of TM 07-25 is to report taxable gifts to the tax authorities for proper assessment of tax liability.
Information such as the value of taxable gifts, any deductions claimed, and details about the recipient of the gifts must be reported on TM 07-25.
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