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8400 Baltimore Ave., Suite 200 College Park, MD 20740 3013144900 TEL 3013140222 TAXA Gift to the Pamela Prize for Distinguished Contributions to the University of Maryland Academic Integrity and Ethical
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Step 1: Start by selecting a suitable gift for the recipient.
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A gift tax form is a document used to report gifts made to individuals that exceed a certain value, as established by the IRS.
Individuals who make gifts exceeding the annual exclusion limit to any one person in a calendar year are required to file a gift tax form.
To fill out a gift tax form, you need to provide information about the donor, the recipient, the value of the gift, and any applicable deductions or exclusions.
The purpose of a gift tax form is to report taxable gifts to the IRS to ensure compliance with federal gift tax laws.
Information that must be reported includes the names and addresses of the donor and recipient, the date of the gift, a description of the gift, and its fair market value.
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