Ask Experts Questions for FREE Help !
Ask
    Sbass's Avatar
    Sbass Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Oct 28, 2012, 07:09 AM
    Accepting foreign monies and wiring them to another
    I have been asked by a friend to accept wired funds for some work he did as a contractor in the Ukraine, and then wire them on to him where he is working now in malayasia

    Do I have any liability in this transaction?
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
    Uber Member
    		  
    #2

    Oct 28, 2012, 04:58 PM
    Hello S:

    Yes, the check he'll send you will BOUNCE, and the bank will want to be paid back. You're the one who'll they'll be looking at to pay. The money YOU'LL send, however, will NEVER come back to you.

    You're being swindled.. Don't do it.

    excon
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Money received in foreign country in foreign bank account [ 3 Answers ]

Hi, 1. If I receive money from my father as a gift in Indian in my Indian Bank Account,will it be considered as income and does it need to be reported to IRS as a taxable income?The amount is less than 30k USD. 2. Sometimes I send money to my parents account in India(I do not have...

Resident alien with foreign bank account + private foreign retirement plan-form3520? [ 6 Answers ]

For 2010 I am a resident alien for tax purposes. I do have a foreign bank account with more than $10.000 so I to file form TD F 90-22.1 (thanks to bine2 for the clarification). While filing form 1040 - schedule B: Do I have to enter my foreign interest in part I? Who would be the payer, my foreign...

State tax for Ohio for foreign capital gain and foreign earned interest on the amount [ 4 Answers ]

Does one have to pay state tax on foreign capital gain and foreign interest that was earned during that year?

Transfer of foreign monies [ 13 Answers ]

I have been able to secure a line of credit with an European bank. If I bring any of that money here in the USA, will I be taxed on that? I have all the normal paperwork, such as a copy of the application, approval document from the bank and what looks like a normal promissory note, indicating...

Inheritance monies from foreign country [ 1 Answers ]

My wife and I inherited some money from our parents in a foreign country. It consists of proceeds from sale of real estate, as well as some cash. We would like to transfer this money to our US accounts. What are the tax implications? We are both US citizens. Thank you for your expert opinions!

View more questions Search