U.S. Department of the Interior

Under the ethics regulation, a gift is anything that has monetary value which you obtain for less than “market value.” The gift might be tangible or intangible. A gift may include, but is not limited to, a gratuity, favor, discount, cash, gift certificate, gift card, entertainment, hospitality, loan, forbearance, or other item having monetary value. It also applies to services, training, transportation, travel, lodging, and meals. See 5 C.F.R. § 2635.203(b).

“Market value” is the retail price that you, the recipient of the gift, would have to pay to purchase it. If you cannot readily determine the retail value of a gift, you may estimate its value by reference to the retail cost of items of similar quality. If a ticket entitles you to food, refreshments, entertainment, or any other benefit, the market value is the face value printed on the ticket.

EXCLUSIONS – Some Things Just Aren’t Gifts – 5 C.F.R. § 2635.203

Certain items are excluded from the definition of a gift and you may accept them purusant to certain specific regulatory exclusions.

  • Modest items of food and non-alcoholic refreshments such as soft drinks, coffee, and donuts, not offered as part of a meal
  • Greeting cards and items of little intrinsic value such as plaques, certificates, or trophies, which are intended primarily for presentation
  • Prizes in contests open to the general public
  • Commercial discounts available to the general public or to all Government employees
  • Commercial loans, pensions, and similar benefits on terms available to the general public
  • Anything for which you pay fair market value
  • Anything that is paid for by the Government
  • Free attendance provided by the sponsor of an event to which you have been assigned to present information on behalf of the agency
    • If you are assigned to participate as a speaker or panel participant or otherwise to present information on behalf of DOI or your bureau at a conference or other event, you may accept free attendance at the event on the day of your presentation if it is provided by the sponsor of the event.  This is not considered a gift to the employee or the agency.  Free attendance for a speaking engagement may include waiver of all or part of the fee for an event or the provision of food, refreshments, entertainment, instruction or materials furnished to all attendees as an integral part of the event.  It does not include travel expenses, lodgings, or entertainment collateral to the event.  It does not include meals taken other than in a group setting with all other attendees, unless the employee is a presenter at the event and is invited to a separate meal for participating presenters that is hosted by the sponsor of the event.  Where the offer of free attendance has been extended to an accompanying spouse or other guest, the market value of the gift of free attendance includes the market value of free attendance by both the employee and the spouse or other guest.  If you are a Political

2020 Gift Tax Rates | What Are They? | Who Pays?

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There are a lot of things to worry about in life, but the gift tax probably isn’t one of them.

What is the gift tax?

The gift tax is a tax on the transfer of money or property to another person while getting nothing (or less than full value) in return.

Many people don’t get hit with the gift tax, because the IRS generally doesn’t care about what you give away to other people unless that giving exceeds some lofty amounts. And even if it does, it might mean you just have to fill out some paperwork.

How much can you gift?

Two things keep the IRS’ hands out of most people’s candy dish: the $15,000 annual exclusion in 2019 and 2020, and the $11.4 million lifetime exclusion in 2019. In 2020, the lifetime exclusion rises to $11.58 million. Stay below those and you can be generous under the radar. Go above, and you’ll have to fill out a gift tax form when filing returns — but you still might avoid having to pay any gift tax.

How the annual gift tax exclusion works

  • In 2019 and 2020, you can give up to $15,000 to someone in a year and generally not have to deal with the IRS about it.
  • If you give more than $15,000 in cash or assets (for example, stocks, land, a new car) in a year to any one person, you need to file a gift tax return. That doesn’t mean you have to pay a gift tax. It just means you need to file IRS Form 709 to disclose the gift.
  • The annual exclusion is per recipient; it isn’t the sum total of all your gifts. That means, for example, that you can give $15,000 to your cousin, another $15,000 to a friend, another $15,000 to the neighbor, and so on all in the same year without having to file a gift tax return.
  • The annual exclusion also is per person, which means that if you’re married, you and your spouse could give away a combined $30,000 a year to whomever without having to file a gift tax return.
  • Gifts between spouses are unlimited and generally don’t trigger a gift tax return. Gifts to nonprofits are charitable donations, not gifts.
  • The person receiving the gift usually doesn’t need to report the gift.

How the lifetime gift tax exclusion works

  • On top of the $15,000 annual exclusion, you get an $11.4 million lifetime exclusion (in 2020, that rises to $11.58 million). And because it’s per person, married couples can exclude double that in lifetime gifts. That comes in handy when you’re giving away more than $15,000.
  • “Think about buckets or cups,” says Christopher Picciurro, a certified public accountant and co-founder of accounting and advisory firm Integrated

Order Gift Cards | Check Gift Card Balance

Effective as of: October 7, 2019

E-GIFT CARDS

E-gift cards are redeemable at all Finish Line locations and online at finishline.com. To redeem in-store, you must present the original e-gift card email printed or on a mobile device, with the e-gift card number and pin number, and present it at the time of purchase. To redeem online at finishline.com, enter your e-gift card number and pin on the payment page at checkout. Up to three (3) e-gift cards may be redeemed online per order. All finishline.com orders using e-gift cards at checkout will be processed in U.S. funds.”

If the amount of your e-gift card does not cover the total purchase amount, you must pay for the remainder of the purchase with a valid form of payment. If the amount of your e-gift card is more than the total order amount, the balance amount will be stored on your e-gift card for future use. Purchases paid for with an e-gift card will be charged applicable sales tax. Returned merchandise will be credited in the original form of payment. If you return items purchased with your e-gift card, a new physical gift card will be issued and you will receive your new gift card via mail in 5-7 business days after the return has been processed.

E-gift cards can be purchased in whole dollar amounts in the following increments: $25, $50, $75, $100 and $200. Sales tax is not charged when buying e-gift cards. All e-gift card orders will be delivered via email within two hours pending credit card authorization and a brand audit of all pictures, messages and audio clips. You may not use an e-gift card to purchase other e-gift cards. E-gift cards cannot be reloaded, resold or transferred for value. Unused e-gift cards may not be transferred. An e-gift card is not redeemable for cash except in the event the balance after purchase is less than $10 or as otherwise required by law. There is no expiration date for your e-gift card.

You are responsible for providing an accurate and deliverable email address for the recipient of an e-gift card you purchase online during the purchase and checkout process. You will receive an order confirmation email containing the e-gift card value and the recipient’s email address. Refunds will not be made for e-gift card purchases sent to an incorrect, invalid or undeliverable email address you provided as the purchaser of the e-gift card. We are not responsible if the e-gift card is lost or redeemed by an incorrect recipient or holder. Lost or stolen e-gift cards cannot be replaced.

We reserve the right to remove any customized content you contribute to an e-gift card if it contains any content that is unlawful, obscene, indecent, defamatory, libelous, threatening, pornographic, harassing, hateful, racially or ethnically offensive or encourages conduct that would be considered a criminal offense, give rise to civil liability, violate any law, or is otherwise inappropriate.

Our Terms of Use apply. Your purchase and/or use of the e-gift

Norwegian Cruise Line Gift Cards

Sign up to get the hottest cruise deals!

Introducing the Norwegian Cruise Line Gift Card, the perfect way to give the gift of cruising to friends and loved ones. Gift Cards can be used toward the purchase of a cruise or anything else Norwegian — like a relaxing massage, an adventurous Shore Excursion or a special night out. Purchase one today, and invite someone special to cruise with Norwegian.

Norwegian Gift Card
SHIPPING INFORMATION

For standard shipping, please allow 10-14 business days for orders to arrive. For expedited shipping, please allow 7 business days for orders to arrive.
Please note that shipping times are estimates and cannot be guaranteed. The busy holiday season and weather issues could impact this delivery time. Gift card orders are non-refundable and cannot be cancelled.

Already Have A Gift Card?

This card is issued by MetaBank™, Member FDIC. The maximum number of cards that can be ordered at one time is five. Multiple cards can be purchased in one transaction and sent to multiple recipients. Customizable messaging is available for all recipients. Cards can only be purchased in USD, have a one-time use and are non-reloadable. Shipping and Delivery: Cards can only be shipped within the U.S. (including Hawai`i and Alaska). Cards will be shipped via USPS, and customers should allow 10–14 days to receive. Expedited shipping is available for an additional cost.

Gift Cards orders are non-refundable and cannot be cancelled. Shipping times are estimates and cannot be guaranteed. Please allow adequate time to receive your Gift Card

To purchase or redeem a Norwegian Gift Card, call

1.800.327.7030

For Norwegian Gift Card balance or transaction inquiries, call

1.888.976.6904

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Gift Cards and Gift Certificates Statutes and Legislation

In 2009, Congress passed the Credit Card Accountability Responsibility and Disclosure (CARD) Act, which set consumer protections for gift cards based on many state laws. The law provides that gift cards cannot expire within five years from the date they were activated and generally limits inactivity fee on gift cards except in certain circumstances, such as if there has been no transaction for at least 12 months. The federal law creates a floor for regulation and leaves room for state regulation on redeeming gift cards for cash and unclaimed property provisions.

Federal Statutes

The Credit Card Accountability Responsibility and Disclosure (CARD) Act of 2009, Public Law 111-24

Eco-Gift Card Act, Public Law 111-209
Delays certain disclosure requirements in the Credit CARD Act of 2009 until January 31, 2011, as specified.

 

State Statutes

PLEASE NOTE:  Please note the summaries should be used for general informational purposes and not as a legal reference. NCSL is unable to answer questions or provide guidance to citizens or businesses regarding gift cards and gift certificate laws and practices. If you have questions regarding issuing or redeeming a gift card or gift certificate or a retailer’s practices, please contact the Office of the Attorney General in your state.

 

The box allows you to conduct a full text search or use the dropdown menu option to select a state.

 

PLEASE NOTE:  Please note the summaries should be used for general informational purposes and not as a legal reference. NCSL is unable to answer questions or provide guidance to citizens or businesses regarding gift cards and gift certificate laws and practices. If you have questions regarding issuing or redeeming a gift card or gift certificate or a retailer’s practices, please contact the Office of the Attorney General in your state.

State Legislation

2016 | 2015 | 2014 | 2013 | 2012

2016 Legislation

Connecticut
H.B. 5564
This bill requires a gift card with a balance under $10 to be redeemed for cash at the card holder’s request. The bill applies to any card, tangible object, or electronic record that (1) shows the issuer’s agreement to provide goods or services of a certain value displayed on or retrieved from the card, object, or record; (2) includes a microprocessor chip, magnetic strip, or other way to store information; and (3) is prefunded with a value that decreases with each use. It does not apply to a general use prepaid card.

Michigan
H.B. 5590
Prohibits expiration within 10 years for gift cards and gift certificates.

H.B. 2793
This bill prohibits a pawnbroker from purchasing, pawning, receiving, selling or exchanging a gift card with a balance of more than $100 or with more than $300 in the aggregate from any individual within a 30 day period.

New Hampshire
S.B. 403
Passed Senate 3/3/16
This bill prohibits the sale of gift certificates with expiration dates if the face value of the certificate is $250 or less. The bill also excludes prepaid telecommunications and technology cards from the definition of

Help – Walmart.com

General Terms 

These Walmart Gift Card Terms and Conditions (“Terms and Conditions”) are applicable in addition to the Terms of Use and Privacy Policy applicable to the Walmart.com website. 

Nonreturnable; not for resale.
Notwithstanding anything contained in these Terms and Conditions, Walmart plastic gift cards and eGift cards (“Walmart gift cards”) are not returnable or refundable for cash except in states where required by law. Resale of Walmart gift cards is strictly prohibited. 

Liability.
The balance on any gift card is solely the liability of Wal-Mart Stores Arkansas, LLC. 

Not for promotional use.
Walmart gift cards may be used as personal or business gifts, but may not be used in connection with any marketing, advertising or other promotional activities (including without limitation via websites, Internet advertisements, email, telemarketing, direct mail, newspaper and magazine advertisements, and radio and television broadcasts). If you are ordering more than 750 cards, please email giftcards@walmart.com and an associate will contact you by the next business day, or call us at 1-800-411-7942, Monday-Friday, 7:30 a.m. -5 p.m (CT). 

No affiliation with Walmart.
Use of Walmart’s name, logo, trade dress (including any image/likeness of the cards) or trademarks (or those of any of its subsidiaries or affiliates) in connection with the purchase or use of Walmart gift cards is strictly prohibited. Furthermore, the use of Walmart gift cards in any manner that states or implies that any person, website, business, product or service is endorsed or sponsored by, or otherwise affiliated with, Walmart or any of its subsidiaries or affiliates is prohibited. 

Compliance with laws.
By purchasing Walmart gift cards, you are certifying and representing to Walmart that the activities in connection with which the Walmart gift cards will be used will comply with these Terms and Conditions and all applicable laws, rules and regulations, and that the Walmart gift cards will not be used in any manner that is misleading, deceptive, unfair or otherwise harmful to consumers or Walmart. In addition, you agree to defend and indemnify Wal-Mart Stores, Inc. and its subsidiaries and affiliates from and against any claims, expenses or liabilities made against or incurred by any of them in connection with your use of the Walmart gift cards or violation of any of these Terms and Conditions. 

Lost or Stolen Gift Card.
Lost or stolen cards will not be replaced. Neither Wal-Mart.com USA, LLC nor Wal-Mart Stores Arkansas, LLC shall have liability to you for (i) lost or stolen Walmart gift cards or (ii) use of any Walmart gift cards by third parties through your Walmart.com account. You are solely responsible for keeping the password for your Walmart.com account safe and for any activity conducted under your account.  

Saving Walmart Gift Card Information and Viewing Balance Terms and Conditions 

Saving Walmart Gift Card Information.
Only five Walmart gift cards (plastic and/or eGift cards) can be saved to your account at any given time. Walmart gift cards you have NOT saved may be used, but you will be required to enter the Walmart gift

Gift Registry: Find and Create a Registry

When to Create a Registry

Traditionally associated with upcoming nuptials, gift registries have evolved to play a major role in all types of events, including baby showers and housewarmings, as well as Bar and Bat Mitzvahs, Quinceaneras and kids’ birthdays. So, whether you’re moving to a new city or starting college, turning another year older or tying the knot, acknowledge life’s milestones with a Crate and Barrel gift registry. Once you’ve created a registry in-store or online, it’s easy for friends and family to find a gift request from your wishlist. Expecting a bundle of joy in the near future? Consider swinging by the baby registry page to fill the nursery with all the essentials, such as crib bedding, baby blankets, bibs and night lights. Or, if you’re hosting a birthday bash, take the opportunity to create a custom gift registry that lets you fill your home with items from loved ones. This type of registry is a wonderful option for kids, too—helping to transform their room into a fun and stylish sanctuary. In addition, gift registries are useful for college send-offs and housewarming parties.

What to Put on Your Registry

Now for the fun part: deciding what to put on your Crate and Barrel gift registry list. Begin by looking at what’s being celebrated and identifying the appropriate gifts. For instance, your toddler’s birthday might call for picture books and toys rather than decor. Know a teen who’s moving into a dorm room? Turn your focus to bedding and storage units—foregoing an abundance of kitchen tools and appliances that take up space. If you’re recently engaged and a new home is on the horizon, make a checklist of all the essentials you’ll need before having people over. Sleek dinnerware and drinkware are favorites, as are big-ticket furniture items, such as sofas, beds and coffee tables that make for great group gifts. For those who already have the basics, give your home a personal touch instead. Opt for items that complement your preferred aesthetic, including decorative pillows for the living room, candle holders for the dining table and wall art for the master suite. You can even transform your backyard into an outdoor oasis with weather-resistant furniture and entertaining accessories. Think a workstation that doubles as a bar and adirondack chairs along the edge of the pool.

Searching for a Registry

If you’re not the one creating a gift registry, but just looking to share in your loved one’s special day, find exactly what they’re looking for by following these easy steps. To begin your search, type in the recipient’s first and last name. Then, pick a registry type from the drop-down box, and click “Find a Registry.” From there, you’ll be taken to a results page that brings up the event you’re attending. It’s a simple as that. For example, help the newlyweds get settled into their cozy abode with feather-down pillows and a fluffy throw blanket from their wedding gift registry. The happy couple will love using both

Do I have to pay gift tax when someone gives me money?

Updated for Tax Year 2019

Surprise – Mom and Dad gave you a nice check! Maybe it’s enough for dinner, or maybe it’s more of an “early inheritance.”

Either way, do you need to worry about paying tax on your gift?

How much is the annual gift tax for 2019?

First, a gift must be quite substantial before the IRS takes notice.

In 2019, a gift of $15,000 or less in a calendar year doesn’t even count.

If a couple makes a gift from joint property, the IRS considers the gift to be given half from each. Mom and Dad can give $30,000 with no worries.

A couple can also give an additional gift of up to $15,000 to each son-in-law or daughter-in-law.

The effective annual limit from one couple to another couple, therefore, is $60,000 ($15,000 X 4 = $60,000). Splitting these gifts up is an effective way to avoid paying gift tax.

Gift Tax: Do I have to pay gift tax when someone gives me money? - TaxAct Blog

jump to gift tax calculator

Gifts that don’t count

Some transfers of money are never considered to be gifts, no matter the amount.

For purposes of the gift tax, it’s not a gift if:

  • It’s given to a husband or wife who is a U.S. citizen. Special rules apply to spouses who are not U.S. citizens.
  • It’s paid directly to an educational or medical institution for someone’s medical bills or tuition expenses. (It doesn’t have to be a child, or even a relative, for this exception.)

Gift tax is not an issue for most people

The person who makes the gift files the gift tax return, if necessary, and pays any tax.

If someone gives you more than the annual gift tax exclusion amount ($15,000 in 2019), the giver must file a gift tax return. That still doesn’t mean they owe gift tax.

For example, say someone gives you $20,000 in one year, and you and the giver are both single. The giver must file a gift tax return, showing an excess gift of $5,000 ($20,000 – $15,000 exclusion = $5,000).

Each year, the amount a person gives other people over the annual exclusion accumulates until it reaches the lifetime gift tax exclusion.

As of 2019, a taxpayer does not pay gift tax until they have given away over $11.4 million in their lifetime ($5.49 million in 2017).

Does the gift recipient ever have to pay gift tax?

If the donor does not pay the tax, the IRS may collect it from you.

However, most donors who can afford to make gifts large enough to be subject to gift taxes can also afford to pay the tax on the gifts.

Gift Tax Calculator

Estimate your gift taxes owed for 2019 with TaxAct’s gift tax calculator.

Step 1: Select your tax year
Step 2: Select your filing status
Step 3: Enter gifts given before the tax year selected
Step 4: Enter gifts given during the tax year selected

More to explore:

Gift Cards | PetSmart

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Activate – GiftCards.com

The GiftCards.com Visa® Gift Card and The GiftCards.com Visa Gift Virtual Account are issued by MetaBank®, Member FDIC, pursuant to a license from
Visa U.S.A. Inc. The Visa Gift Card can be used everywhere Visa debit cards are accepted in the US. No cash or ATM access. The Visa Gift Virtual Account can be redeemed at every
internet, mail order, and telephone merchant everywhere Visa debit cards are accepted in the US. No cash or ATM access. The GiftCards.com Visa Reward Cards are issued by MetaBank,
Member FDIC, pursuant to a license from Visa U.S.A. Inc. The Visa Reward Card can be used everywhere Visa debit cards are accepted. No cash or ATM Access. The GiftCards.com
Mastercard® Gift Cards are issued by MetaBank, Member FDIC, pursuant to license by Mastercard International Incorporated. Mastercard Virtual Account is issued by
MetaBank, Member FDIC, pursuant to license by Mastercard International Incorporated. Use your Debit Mastercard everywhere Debit Mastercard is accepted in the US. Mastercard is a
registered trademark, and the circles design is a trademark of Mastercard International Incorporated. The merchants represented are not sponsors of GiftCards.com or otherwise
affiliated with GiftCards.com The logos and other identifying marks attached are trademarks of and owned by each represented company and/or its affiliates.
Please visit each company’s website for additional terms and conditions.

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