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| *Loan,banking and credit>>>estate tax |
If my parents (live overseas) give me money, are they still liable for taxes (gift,estate, etc.)? Am I? |
If my parents (live overseas) give me money, are they still liable for taxes (gift,estate, etc.)? Am I? Are your parents US green card holders or US citizens? If not, then no. This is a win-win situation for you since gift taxes are assessed on the giver. You are the recipient, so you do not pay gift taxes. Since your parents are not in the US, and don't meet the other requirements above, they are not considered US tax residents. Therefore, they are not subject to gift taxes. |
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| business tax car tax child tax cigarette tax corporate tax estate tax import tax inheritance tax pay tax payroll tax property tax |
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