Federal Gift Tax
Federal Gift Tax: The interest rate that banks with excess reserves at a Federal Reserve district bank charge other banks that need overnight loans. The Fed funds rate, as it is called, often points to the di . . . View Full Definition
Tax-Free Gifts: Gifts that are free from federal gift taxes.
Gift Tax: A gift tax is a tax on the combined total value of the taxable gifts you make that exceed your lifetime federal tax-exempt limit of $1 million. The tax is figured as a percentage of the valu . . . View Full Definition
Tax: A government fee on business and individual income, activities, or products.