"Gift Money" refers to funds given to an individual without the expectation of repayment. This can include cash, checks, or electronic transfers, often provided for special occasions like birthdays, weddings, or holidays. In many countries, there are tax regulations that govern how much money can be gifted without incurring taxes. In the United States, for example, the IRS allows individuals to gift up to a certain amount each year without tax implications. This limit can change annually, so it's important to stay informed. Gift money can also be used for various purposes, such as education, home purchases, or personal expenses.