My wife and I inherited some money from our parents in a foreign country. It consists of proceeds from sale of real estate, as well as some cash. We would like to transfer this money to our US accounts. What are the tax implications? We are both US citizens. Thank you for your expert opinions!

There is no tax on inheritances. No tax involves if you bring the money to the U.S.

If you sold the real estate after you inherited it, then you may need to report the sale on schedule D (Form 1040). Your cost basis of the real estate is the fair market value at the date of inheritance.
Also if the amount is more than $100,000 then you may need to file Form 3520. Your U.S. Tax Return: Tax on Inheritances (http://taxipay.blogspot.com/2008/02/tax-on-inheritances.html)