When is a Gift Tax Return due?

A Gift Tax Return, specifically Form 709, is due on April 15th of the year following the year in which the gift was made. This timing aligns with the individual income tax return deadlines, providing a convenient point for taxpayers who may handle multiple tax-related filings at the same time. If you are unable to file by this deadline, you can request an extension, similar to other tax forms, but it is essential to remember that while an extension allows more time to file, any gift taxes owed still need to be paid by the original due date to avoid penalties.

Understanding the due date for the Gift Tax Return is crucial for estate planning, as it helps individuals manage their gift-giving strategies in light of tax implications and utilize applicable exemptions effectively.