I am a resident alien with L2 visa in Texas and arrived US 2 weeks ago. I would like to make a wire transfer from my accounts overseas to my account in US to buy a car and/ or cover living expenses. The amount is USD25,000. Do I need to pay tax over this amount and do I need to file any tax reports for this income?
I will use this money to cover my expenses here explained above but I am concerned whether I will be subject to any kind of inspection. It is the money I earned abroad and will be transferred to my accounts in US but as I am not familiar with US regulations/ formalities I do not want to deal with inspections just because of such transfer.

I would appreciate if you can help me on this issue.

Thanks,

The United States has NO transfer taxes. Transfer the $25,000.

The only requirement is filing Form 3520 for the transfer of amounts in excess of $100,000. That is an information-only return (no taxes due), and your proposed transfer does NOT meet the reporting threshold.

Thank you very much for your support.

My husband is also a resident with L1 visa. Is the regulations the same for him?

Does it make a difference from tax or report filing perspective if I transfer the money from my accounts overseas to his account here in US?

Thanks,

No difference, and the same regulations apply to your husband.

I just want to make a correction. I and my husband are both non resident alien. Does it change anything?

I have read a about the gift tax in US but could not find details. Is my transferring the amount from my accounts overseas to my husbands accounts in US trigger a gift tax? It is our mutual savings but sitting in my account in Turkey.

Under current gift tax law, exchanges between spouses are EXEMPT from any gift tax.

Besides, the gift tax laws do NOT apply to non-resident aliens under most circumstances.

Thank you for all your help.

Glad to help!