I am assuming that this is for the tax year of 2023.According to IRS regulations, the only exclusion available for not having to file the gift tax return is if the the gift is 17,000 or less. See HERE pg. 2 and 3 and HERE under "Do You need to file a gift tax return." No where is it mentioned that there is any exclusion based on the taxpayer's lack of income or income strictly of social security.
In addition, there is a lifetime exclusion of 12.92 million per donor spouse which cover any gift tax that would be due above the 17,000 threshold. See HERE under "How Much can you give tax free".
Finally, the deadline for filing the 709 gift tax return for 2023 is April 15,2024. If April 15 falls on a Saturday, Sunday or
legal holiday, then the form would be due on the next business day. Late payment penalty is 1/2 of 1% of any tax not
paid by the regular due date. It is charged each month or part of the month the tax is unpaid with a maximum penalty of 25%. Late filing penalty is 5% of the tax not paid by the original due date for each month or part of the month that your tax return is late with a maximum penalty of 25%. Unless, you maxed out your lifetime exclusion, you would most likely not have to be too concerned about these penalties. See HERE pg. 2 for more detail.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
