Everyone can gift up to $12,000 per year to as many people as they wish and not have to file any gift tax returns or report it anywhere else. The
recipients do not have to be relatives. Recipients never pay taxes on gifts received. A married couple can pool their gifts and give up to $24,000 per year to as many individuals as they wish and not have to file any gift tax returns. In addition to these non-reportable gifts, everyone has a lifetime gift tax exclusion of $1,000,000. For every gift that is over the $12,000 exclusion, a gift tax return must be filed. However, no gift tax will be due until the cumulative value of gifts over $12,000 reaches $1,000,000. For a married couple, each spouse has a $1,000,000 exclusion. These thresholds are in effect during 2008.