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    SIMBRIAL's Avatar
    SIMBRIAL Posts: 36, Reputation: 1
    Junior Member
    		  
    #1

    Mar 25, 2014, 02:54 PM
    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
    talaniman's Avatar
    talaniman Posts: 54,327, Reputation: 10855
    Expert
    		  
    #2

    Mar 25, 2014, 07:15 PM
    https://www.askmehelpdesk.com/search...earchid=434851

    Here are all your old threads for you to browse through.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #3

    Mar 25, 2014, 07:20 PM
    No need to search.

    There are no reporting requirements as long as the money transferred does NOT exceed $100,000 for the year.
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