A cash gift is a monetary present given from one person to another without any expectation of repayment. This type of gift can be given for various occasions, such as birthdays, weddings, or holidays, and is often appreciated for its flexibility, allowing the recipient to use the money as they see fit. In many countries, cash gifts may have tax implications. For example, in the United States, the IRS allows individuals to gift up to a certain amount each year without incurring gift tax. This limit can change annually, so it's important to stay informed about current regulations regarding cash gifts and related topics like gift tax and financial planning.