Cash Gifting Is It Legal? Many Are Turning To Cash Gifting In Today’s Economy

As many people turn to the internet for extra income they find that cash gifting has a very big presents. But is it legal and how does the IRS treat a cash gifting program. What do you look for in a cash gifting program.
By: John Schnieder
 
July 19, 2009 - PRLog -- The economy is on the minds of all of us and with the unemployment rate at an all time high many people are turning to cash gifting as a source for extra money, but is it legal.

In reviewing the phenomenon of cash gifting, the oldest I have found online claims to have been around for fourteen years.  The other older programs appear to have been operating for 5 to 10 years.  

The literature states that these techniques have been used for many numbers of years by the wealthy to basically share earnings.  

The elements legally apply to the IRS authorized cash gifting codes.  "The cash gifting rules do make it clear that "For calendar year 2009, the first $12,000 of gifts to any person (apart from gifts of future interests in property) isn't included in the whole amount of taxable money gifts made during that year".  The official IRS.gov site gives a large amount of detail regarding tax free cash gifts to any one individual in any given calendar year, there appears to be no restriction to the amount of gifts any one individual can receive from different giftors in a calendar year.  

All of the cash gifting programs that I looked at appear to obey the guidelines of the IRS and many of the cash gifting programs go through great lengths to explain to visitors to their sites that the full process is legal and not a scam.

Several cash gifting programs approach the subject from a non secular religious viewpoint and even quote the bible.  Another say it is the only one set up by a counsel, although that does not seem to be important in the final scheme as it appears legal anyway, all of  the programs include a cash gifting statement that states the person giving the cash gives it openly without any product or service being exchanged or traded and hasn't been coerced.

The most overriding reason I can find for believing it is legitimate is that these cash gifting programs haven't been shut down by the IRS.

After looking at many cash gifting systems I have found Prosperity 2 People to be the most trusted site out there. To see their program go to http://www.cashgiftingtoday.com

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Prosperity 2 People a cash gifting company that is sweeping the nation and beyond. This is the most trusted cash gifting program on the Internet. Join us today http://www.cashgiftingtoday.com
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Source:John Schnieder
Email:***@gmail.com Email Verified
Zip:96021
Tags:Cash Gifting, Work From Home, Business Opportunity, Make Money, Finance, Home Business
Industry:Home business, Financial, Business
Location:Chico - California - United States
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