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ke6yl · Joined: 29 Jan 2009 Posts: 4 3.26 Dollars($)

Hallo

Lets say , Person A has a lot of value in real estate.
He is a nonresident in the US.
He wants to give away his property to his daughter who is a citizen.

He does not have enough money to pay the gift taxes.
How will the goverment handle that situation.
Will the collect from the daughter.
What happens if the daughter does not have enough money to pay.
Do the give her time to pay , make arrangements to pay.
How are situations like this usually handled.

Thank you for the answer

adonis · Posted: Thu Jan 29, 2009 11:23 pm Post subject:

Hi ke6yl,

If the property is transferred to the daughter by the father, then the father will be responsible for paying the gift taxes. I do not think the government can collect the taxes from the daughter. It will be better if both of them consult a tax adviser in this regard.

Guest

Are you very sure on that.

Lets say the donor would not have any money to pay the taxes , but he only has land .

Very strange to me

Guest

Hi
What can there be strange.
A person owns a lot of land but has no money?
Does a donor have to find out first if he can pay the taxes?
There is realy not much wrong with it.

Best regards

Posted: Fri Jan 30, 2009 10:38 pm Post subject:

If the donar cannot pay taxes, then I guess, the IRS may place liens on his property. The donor can contact a tax adviser and check with him how much taxes he needs to pay. This will help him in judging whether he will be able to pay the taxes or not.

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Gift taxes , who has to pay them , please read?