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    windesi's Avatar
    windesi Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Feb 12, 2010, 11:26 AM
    Overseas money transfer
    My wife is a British citizen and would like to wire transfer some ($80K) money from her UK account to US bank account. What does she owe the IRS? Are there any forms I need to file with IRS? She is a resident alien and we file jointly for tax purposes.
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Feb 13, 2010, 12:08 AM

    She does not owe any tax to IRS and does not report it.
    Any income earned on foreign investment including bank interest must be reported on the tax return.
    Another filing requirement is Form TD F 90-22.1. Your U.S. Tax Return: U.S. Citizen or Resident with Foreign Income
    IntlTax's Avatar
    IntlTax Posts: 831, Reputation: 23
    Tax Expert
    		  
    #3

    Feb 13, 2010, 02:28 PM

    If she has not been reporting the income from the foreign account or declaring the existence of the foreign account, she may want to file amended tax returns in the hopes of avoiding penalties.
    gauripur's Avatar
    gauripur Posts: 1, Reputation: 1
    New Member
    		  
    #4

    Mar 10, 2010, 08:07 PM

    Note: Please carefully fill the Receiving Account information and ensure there are no mistakes
    Receiving Account Number
    Receiving Bank Name :-
    Account Name :-
    Account Owner Email :-
    Bank swift Code :-
    Routine/Sort :-WHAT IS THE MEANING OT THIS WORD? WHAT WILL BE HERE...


    Amount :-
    Country :-
    By Clicking Transfer, you certify the information above true. Citic Bank China is not liable for errors in information provided by you.
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