Question

Do I need to pay tax with foreign transfer received from the company in other country?

Forum|Forum|5 years ago
August 8, 2020
1 reply
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My sister (non-us citizen/resident) living in other country (i.e. A country) works for the foreign ltd. company located in another country (i.e. B country). She is monthly paid from the company through the foreign wire transfer.

The company can send me the money directly and monthly rather than sending the money to her under her request. Then, do I need to report this money to IRS? Is it considered income or just a gift? Is there a limit of how much money the company can send me annually before IRS taxes me?

Thanks a lot!

Critter-3

At no time is this YOUR income to be reported on an income tax return HOWEVER I would keep really good records of these transactions in case the IRS was to ever audit you.

That said this smells to high heaven ... make very sure this is not any kind of MLM scheme or illegal activity that either of you are getting involved in ... income tax may be the least of your worries if it is. IMHO don't get involved.