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B Patrick
Nov 1, 2013, 03:14 PM
What are the restrictions, if any, on receiving money wire transfers from overseas? What is the amount that the IRS will have to be notified?

AtlantaTaxExpert
Nov 1, 2013, 03:32 PM
There are NO transfer taxes.

If you receive OVER $100,000, you must report the transaction on IRS Form 3520, but (again), no taxes are due.