G1 visa holder receiving and wiring money
Hello Atlanta Tax Expert,
You already answerd to my question but I cannot retrieve among my posts what you told me.
I have received an amount of $20k and I will receive it an additional $20k by check. I hold a G1 visa.
I recall you mentioned that below $100k among no reports needs to be done and either taxes are involved.
Am I correct? I cannot remember and cannot find your answer any more.
My sister non Italian citizen living in Italy has a client in the US who owes her some money for a business consultancy. I will collect the payment (check) on her behalf and send it to her.
I'm a G1 visa holder and I will wire her the payment.
I would like to know if there are some taxes I need to pay for the transaction. The money which I will receive by check will be exchanged in the foreign currency and sent it as gift.
I also believed that no taxes or reports to the IRS are involved for me on the money received with the check (no US income profit) under 100k. Atlanta expert (a real professional tax expert) gave me the answer on this last question but I cannot remember.
Many thanks