Exclusions. The entire $50,000 you give isn't vulnerable to taxation. The IRS allows exclusions, a dollar limit you can give away tax-free. As of the 2012 tax year, the exclusion amount is $13,000 for each person you make a gift to.If you're married, you can double that: you and your spouse are each entitled to give away $13,000 per person.f your generosity qualifies as a gift with the IRS, you'll have to pay taxes twice on the amount that exceeds the exclusion: once in income tax, then again for the federal gift tax. The 2012 federal gift tax rate is 35 percent.
The IRS has released the inflation-adjusted limits for HSAs and HDHPs for 2018. These limits include: (1) the maximum HSA contribution limit; (2) the minimum deductible amount for HDHPs; and (3) the maximum out-of-pocket expense limit for HDHPs. The IRS limits for HSA contributions and HDHP cost-sharing will all increase for 2018. This Compliance Bulletin shows the new limits for 2018 (as compared to the 2017 limits).
For employers sponsoring HSA-qualifying HDHPs, the new limits will affect benefit plan administration and communication materials for 2018. The information also may influence an employerâs HDHP design and its HSA contribution strategy in 2018.