International Tax Compliance - Foreign Gifts (U.S. Person)

U.S. Persons that receive gifts from foreign indi­viduals or entities must also report such transfers.
Generally, a U.S. Person must report on a Form 3520 (1) any gifts from a non-resident individual or foreign estate that collectively exceed $ 100,000, (2) any gifts from foreign corporations and foreign partnerships that collectively exceed $10,000 (ad­justed for inflation). [...]

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