Great human interest story about homeless man returning a ring given to him in error
http://www.huffingtonpost.com/2013/0...n_2743310.html
Tax question: since none of the individual donors gave anywhere near the gift tax limit ($13,000 I think) but the total is approaching six figures will this man have to pay tax on this money; and, if so, what will be the ultimate burden (income Fed, State, local?, any self-employment tax?). I hope he does not have to pay any taxes on these donations.
Side bar: since he has acquired in a month more than most folks do in a year is it incumbent on the government to make sure he pays his "fair share?"
Tax question
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