I am currently in the United States on a work visa. I am receiving funds for EB-5 from a U.S. citizen (money earned in the U.S. and taxes paid). If I receive more than $100k as a gift for EB-5, do I have to pay taxes for this, or need to report this to the IRS?
There are certain gift tax exemptions but you need to consult with a tax specialist to structure the deal and also need to do a source of funds analysis on the giftor before doing this transaction.
Generally speaking, the individual making the gift in the U.S. could have tax liability depending on the amount of the gift. You should consult with a tax/accounting professional concerning any tax-related questions.
No, you as a recipient of the gift do not need to pay or file anything. However, the payor or person who pays the gift to you would only need to file a gift tax return (IRS Form 709) and since the Federal gift tax exemption is at $12,060,000 per person, the US person will pay no gift tax.
