I believe, there should be a mechanism whereby "gift money transactions" less than $16,000 per recipient per year are also "labeled at source" as "gift" in order to allay fear/risk of audits and penalties due to receiving gift money and their being no declaration of it? After all how can the recipient prove that it was a gift? Only the gifter can declare that it was a gift? So auditing the recipient and questioning the recipient wouldn't be fair? What do you think?
