Can a friend in the Philippians transfer $50,000 to my US acct at BofA so I can buy a property - I'm Chinese with a 10yr old son who is a US citizen? Any tax issues?

I have an International company in China and my friend owes me money and is willing to pay it directly to my US account.

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Can a friend in the Philippians transfer $50,000 to my US acct at BofA so I can buy a property - I'm Chinese with a 10yr old son who is a US citizen? Any tax issues?

Gifts from anyone in any amount is not an income tax issue for the receiver.

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Can a friend in the Philippians transfer $50,000 to my US acct at BofA so I can buy a property - I'm Chinese with a 10yr old son who is a US citizen? Any tax issues?

Gifts from anyone in any amount is not an income tax issue for the receiver.

Can a friend in the Philippians transfer $50,000 to my US acct at BofA so I can buy a property - I'm Chinese with a 10yr old son who is a US citizen? Any tax issues?

Will the gov’t require me to pay a gift tax of any kind?

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