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

    Nov 1, 2013, 03:14 PM
    IRS rules on receiving money wire transfers from overseas
    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's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
     
    #2

    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.

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!

Does the IRS care about money transfers into the US [ 7 Answers ]

My mom is a US citizen and planning to sell property that is outside the US. Let's say she'll get around US $100,000 for the sale. She plans on getting a check for that amount in her name and depositing in the US. So the questions are: 1) Will there be any taxes on that $100,000? Remember that...

IRS rules on transfer of money to overseas? [ 10 Answers ]

SUBJECT : re: FBAR a/c & Transferring money to native country from US I am working in US & am not a citizen/permanent resident. 1. Is there any restrictions on how much money can I send to my parents who are not US residents & not US citizens living in the foreign country to their personal...

Pay taxes receiving money from overseas [ 1 Answers ]

I have a property overseas and I am selling it, once it sold and want to bring the money (profit) here in the U.S. do I have to pay taxes? Is there a limit of how much money I can transfer to U.S. to my bank from my account overseas? Thanks.

UK Tax rules on money transfers to USA [ 1 Answers ]

I am a UK National who has worked continually abroad since 1976 for an American company with whom I have retirement plan. The money is held in US dollars in an Isle of Man account. I would like to use the money to buy a house in the US and need to know if it will be the subject of UK tax?


View more questions Search