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Get the free On Gifts: Christmas or Otherwise. Koinonia Prompt #14

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Koinonia DEC2016Message fromFR. MICHAEL L. PASTRIKOS, PROTOPRESBYTERI would like to talk to you about Christmas. It seems that we all have a tendency to build up to Christmas as a climax anticipating
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Make a list of people you want to buy gifts for.
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On gifts for Christmas refers to items given or received as presents during the Christmas holiday season.
Individuals who give gifts exceeding a certain value during the Christmas season may be required to file a gift tax return.
To fill out a gift tax return, individuals should report the fair market value of the gifts given and include any exemptions or deductions applicable.
The purpose is to ensure that significant gifts are reported for tax purposes and to track the giving and receiving of large items.
Information that must be reported includes the value of gifts, recipient details, and any relevant tax exemptions.
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