Are the tax implications of an iheritance from Australia

There is NO federal inheritance tax, and the estate tax does not apply since it is in Australia.

If you receive more than $100,000, you will need to report the receipt of such income on Form 3520, but no tax will be due.

What state do you live in, and what was the relationship of the deceased to you (grandparent, uncle or aunt, etc)? Several states have inheritance taxes, so depending on the where you live there may be a state inheritance tax.

Good point, ebaines! I forgot that some states DO have inheritance taxes.