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  Feb 12, 2015
Taxation of Gifts From Foreign Persons

Generally, nonresident aliens (“NRAs”) are only subject to tax on income from U.S. sources and income received in connection with the conduct of a trade or business within the U.S. However, in certain circumstances, an NRA may also be subject to wealth transfer tax (i.e., estate and gift tax). This memorandum presents an overview of the circumstances pursuant to which a gift transfer will be subject to gift tax, and the reporting requirements of U.S. citizens and residents receiving such gifts or bequests.

  For more information contact:
Greene Radovsky Maloney Share & Hennigh LLP
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