Have Tax Questions? Ask a Tax Expert for Answers ASAP
Hello and thank you for using Just Answer,
You would not need to pay taxes but you would be required to report the gift if you are a US person.
You would report the gift on form 3520
The non US person would not owe any US tax on the gift
will they have to pay a tax. will be coming in from ireland
They would not be under US taxation. I can check if Ireland has a gift tax. One sec
thanks for checking
No problem, Ireland does have a Gift tax but their tax is on the receiver if the receiver is resident in Ireland or has been resident in the last 5 years.
I fyou are not resident in Ireland and have not been resident in the past 5 years you would not owe them tax. I need to check our tax treaty now.
thank u so much
he is asking for ur phone number so he can call u with or q's
Sorry but we do not speak on the phone or have contact away from this Q&A (site regs).
Sorry I was reading through the treaty
I am trying to make sure that the tax would not fall to the giver
Sometimes the country will tax the giver (if they are resident) when they cannot tax the receiver
should he go to justanswer.com
This is fine
He can come to this Q&A too if he wants to post another question but I am still scanning through the Irish law on the gift tax and the treaty
ok i'll tell him
So far you know there is no tax in teh US for either of you just you to report because it is more than $100,000
waiting for his question
I cannot see any area where there would tax to pay in Ireland either
he said thats ok. has has the info for huis end
thanks for answering
I really enjoyed working with you – please feel free to request me again when you come back to ask another question.
Your positive rating is always thanks enough.
where do I get gift form
I will give yo a link one sec
where do i get form 3520
That is to the IRS page for the form
that is the instructions