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Lillyandkip

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    116
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About Lillyandkip

  • Rank
    Member
  • Member # 231000

Profile Information

  • Gender
    Not Telling
  • City
    Phoenix
  • State
    Arizona

Immigration Info

  • Immigration Status
    K-1 Visa
  • Place benefits filed at
    California Service Center
  • Local Office
    Phoenix AZ
  • Country
    Germany

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Single Status Update

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  1. If you are a U.S. person who received foreign gifts of money or other property, you may need to report these gifts on Form 3520, Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts. Form 3520 is an information return, not a tax return, because foreign gifts are not subject to income tax. However, there are significant penalties for failure to file Form 3520 when it is required. The IRS requires taxpayers to file IRS Form 3520 if they receive:

    1. Gifts or inheritances valued at more than $100,000 from a nonresident alien individual or foreign estate (including foreign persons related to that nonresident alien individual or foreign estate); 
    2.  
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