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.
For some people giving $20 would be a stretch. I think a lot of how much you give depends on how close you are to these nieces and nephews. If not close--if you don't see them or stay in touch, I'd give a lower amount. I gave $50 to my kids' friends on high school graduation.But for close kids or family, I'd give $100. am truly shocked. I wouldn't DARE give somebody less than $50 for a graduation gift (HS or college). When I graduated from HS a few years ago, neighbors/family friends gave between $50 and $100. Close family members gave between $150 and $500.