If the amount given to each individual is less than $14,000 each year, you don't have to file a gift tax return or report it to the IRS. If you make large zero-interest loans to get around the gift tax you may have to report the imputed interest on the loan. See IRS Tax Rules for Imputed Interest for further information.
The IRS website Frequently Asked Questions on Gift Taxes covers what you need to report to the IRS.
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