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This is something that so many people think about when approached by the thought of Cash Gifting. They can't believe the thought of giving and receiving money could be legally tax free.

Here is the good news. irs tax code title 29 and Publication 950, a person can give up to $12,000 in a calendar year. There are special tax circumstances that need to be followed for gifts received over $12,000; however, even these circumstances are worth checking into for this growing business.