What is the name of your state? CA
I worked for a Russian company, in Russia for three years. After completing the work for which I was hired, I resigned and returned to the USA (CA) accepting a position in a US based company. Eight months after having left Russia, without any prior communication, I received a note in the mail telling me that the owners of the Russian company were celebrating the 10th anniversary of the company and giving money gifts to their family and friends. I am on the friend list and they will be sending me $xx,xxx.
Since I am receiving the gift, do I have to report it? Is it a taxable event?
I worked for a Russian company, in Russia for three years. After completing the work for which I was hired, I resigned and returned to the USA (CA) accepting a position in a US based company. Eight months after having left Russia, without any prior communication, I received a note in the mail telling me that the owners of the Russian company were celebrating the 10th anniversary of the company and giving money gifts to their family and friends. I am on the friend list and they will be sending me $xx,xxx.
Since I am receiving the gift, do I have to report it? Is it a taxable event?