I am an H1-B visa holder and the gift is from my father. He is a US citizen but lives abroad and has not lived in the US since childhood, nor does he intend to move here. Do these facts alter any part of your first answer or have any tax implications for my father?
Thank you for the detailed reply. He has never filed any US tax returns since he has not lived here since childhood and has never had any US income, and does not know that filing is required. Are there any repurcussions for him if he does not file in the future?