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Hello All,
I have recently joined FIS Global around end of April. My mother recently met with an accident and she needs to be operated.
I haven't been able to update the anything regarding the insurance part yet on FIS portal.
Will my mother's treatment be covered under the insurance? If yes, what's the procedure for the same? What are the documents that I need to submit in order to claim the amount?
Can anyone please guide?
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Depends on the applicable laws in your country. There are countries that offer a smaller tax liability to single parents or to those paying the taxes alone. It would be better to ask the office or agency assigned for that matter in your area.
Yeah definitely check what the regulations are in your state if you're in the US. It is possible that a larger gift will be taxed, but no way to be sure without knowing your location.
If he gifts you more than $15k he has to file a gift tax return… not taxable but reportable…
BUT if he pays the loan directly it is not subject to the gift tax rules
I think paying them off at once would be better. I guess it depends on the interest rate.