December 7 Tribune column
Hello Terry- I have two questions about things in your Dec 7 column: (1) you said that estimated tax payments on Jan 15 need to be made online. I’ve sent checks for the three prior 2025 tax year payments. Why would the Jan payment be different? (2) I was under the impression that the $19K gifts that I gave in 2025 do count towards my estate tax exemption. Am I wrong? Thanks for your advice.
Terry Says
The govt has stated that all future estimated tax payments must be made online. I don’t know whether they will stick to that and enforce it. But it’s really easy once you’ve done it at https://www.irs.gov/payments
And you’re under the wrong impression re annual gifts. That’s why it’s important to get facts, not impressions!
You can give up to $19,000 this year to any number of recipients without it counting against your $13.99 million Federal combined estate and gift tax exemption.
If you’re nearing that limit, I suggest you get some trusted estate planning advice.
