2025 Gift Limits Irs. (irs) on your tax return. You only pay the gift tax if you exceed the lifetime exclusion, and that only happens if you exceed the annual exclusion.
The donor is typically responsible for paying any gift tax. Starting january 1, 2025, the federal lifetime gift, estate, and gst tax exemption amount will increase to $13,990,000 per person or $27,980,000 for a married couple.