Hi there,
I'm looking at sending a large amount of money (over 20K) to my father in Canada from me in the US. He is NOT a U.S. citizen but I am.
Is there some sort of paperwork I need to fill out?
Is there a gift tax or something?
I want to make sure I'm doing it all legal but the IRS doesn't seem to make this easy to figure out!
Thanks in advance for the info.