The IRS recently announced that the annual gift tax exclusion amount will increase from $12,000 to $13,000 beginning Jan. 1, 2009. This means that every individual can give away up to $13,000 per person, per year without having to file a gift tax return. For example, you could make a gift of $13,000 to each of your three children and to each of their spouses for a total of $78,000 per year (or two times that amount for married couples). There is no limit to how many individuals you may make gifts to.