IRS Tax Tip 2012-64, April 3, 2012. If you owe tax with your federal tax return, but can't afford to pay it all when you file, the IRS wants you to know your options and help you keep interest and penalties to a minimum.
The amount spent by each individual on graduation gifts also hit a new high this year, rising from a tick under $98 last year to $102.50 this year, and the average graduation gift-giver is shopping for two people â so those new grads will have to share the wealth.
Most investors (54 percent) say itâs appropriate to give the college grad of a close friend or family member between $100 and $500, though 35 percent say less than $100 is appropriate.ccordingly, grads are more likely to get a gift from a woman, but a gift from a man is likely to be a bigger one. More than half the women surveyed (53 percent) say itâs important to give graduation gifts to close friends, compared to 39 percent of men.