I am a Green Card resident in Nebraska USA, and I am a UK citizen. Is it correct that I need to report to the USA Government if I inherit more than $10,000 from my father’s Will (he too was a UK citizen)? I have reported it to HMRC and because the inheritance is under the threshold, there are no taxes due in the UK.
I’m not sure if I’m reading Google correctly, but it appears that I would not be liable to pay US tax on this inheritance – however, it appears that some states (including Nebraska) do regard any inheritance as taxable at 18%.
Could anyone please help clarify this for me? This is so confusing!
Do I need to file the forms FBAR and 3520?
Very many thanks for any advice or information.