I have a friend that is in a bad spot and really needs someone to bail him out. I am willing to help him, but I have to figure out how much to give him so that after the money is taxed he has enough money left over to take care of his debts. I remember once being told that you could gift someone up to eleven thousand dollars without the IRS getting involved and taking a big portion of it. I don't want to do anything illegal, but if there is any way around paying taxes on the gift, I would really like to do so. If there is anyone out there that knows what the gift tax limit is I would really appreciate any information that you could give me. All of this IRS stuff is so complicated it would be a lot easier if there was a simple flat tax to cover everything.