http://origin.bankrate.com/brm/itax/tax_adviser/20040806a1.asp http://biz.yahoo.com/brn/050112/14621_1.html
And as with any gift, there is no income tax due by the recipient of
the gift no matter the amount.
If you receive more than $100,000 in gifts from one foreign individual
or related foreigners, then you need to file a statement with your tax
return (Form 3520, Annual Return to Report Transactions With Foreign
Trusts and Receipt of Certain Foreign Gifts) naming the person who
gave you those
