gobonzzo
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Probably not. The income from any work you do now will have to be claimed on a tx return. The IRS would have no way of knowing you owe tax because they have none of your information. If you did owe tax and did not pay, the IRS would first send you a Notice of Intent to Levy, and then one day you would simply find the money gone from your account.
The best best is to contact the IRS and ask them directly. Do not be afraid to do this, as I have called them on numerous occasions and found the agents to be very helpful and polite.
Taxes or estimated tax from self-employment income is due quarterly, so nothing should be frozen unless there is some legal provision pertaining to F1 Visas and bank accounts. For a definitive answer to this question, your best bet is to contact the IRS, and even then an agent may have to research the matter and send you a reply later.
The IRS is NOT all-powerful and cannot just do anything it wants. By the way, $1,000 is nothing, not even a blip on the radar. Any deposit of $5,000 or more is a blip and will be reported to the IRS |
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tkquestion
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All you need is for someone to get mad at you and report you. Then you have several problems.
1) INS will be upset as F-1 visa holders are now allowed to work at all
2) IRS will be after you for unreported income
3) Someone who hired you will be penalized for illegal employment
As a result, you will be subject to several charges. Your 1000 dollars will be the least of your problems. |
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ed
 |
IRS does not know your bank accouint balance.
$10,000.00 deposits are reported to the IRS by law.
More than one deposit of $5,000.00 may also be reported.
Multiple deposits under $10,000.00 is considered suspicious.
If you are ever "audited", you will have to account for every deposit and possibly prove that taxes were paid. |
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oldwolf1951
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Not sure myself. You can contact the IRS online to find out. Site below may have the specific answers you need. |
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Heather B
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I would hope so if you aren't paying taxes. You live here so you should pay taxes. |
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Steve L
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not sure how they could be sure the bank account is yours. |
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Cannon C
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Just keep your money in a safer place than a bank, and you don't have to worry about this kind of stuff. I recommend buying a nice size vault and alarm system and just protecting your own money you have worked hard to earn. Or at some banks, they insure anything you keep in a safety deposit box, just keep your stacks of money in a safety deposit box rather than your "account", so that the money is insured by the banks yet untraceble to IRS. Or yet another solution, get a foreign bank account based out of Switzerland. What I do is keep my money in forms of gold bars so that it is not considerd "untaxed money" and so the value of my gold goes up every day, my money is growing just by sitting there. |
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ibu guru
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Foreign students are forbidden to work or earn money -- that includes doing "freelance" work. Therefore, your earnings can be frozen to pay taxes plus penalties for visa violations. And you can be deported and barred from re-entry. They can confiscate any assets to pay for your deportation, too.
Have a safe flight home. |
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melissakurtz04
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they can. the irs can pretty much do anything so I would watch myself if i was you. The best thing you can do is ask your personal banker they would be able to help you out more. |
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the baller of the 913
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maybe |
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Sean
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yes!! the I.R.S. can do anything!!
when I worked for a Bank every day we got the names/ number from ppl to freeze the account!!!
I'm not usually scared of anything....but the IRS....I've seen what they can do to ppl........rich and poor...!! |
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CARL G H
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yes they can freeze an account for cause. suspision of money laundering.they likey wouldnt because your small fish at that amount. |
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TweetyBird
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Why not become legal and you won't have to
worry about such things.
How is it worth it not to be able to sleep at night????? |
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physical science chic
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prolly, the gov;t or the irs can do anythinh |
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Nick
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haha... pay taxes, if you don't, you can go to jail! Yikes, tax evasion can be serious. |
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rtfm
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If you're earning income in this country, you are supposed to be paying income taxes in this country.
Pay your taxes. |
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Joel R
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"I'm not paying taxes"
Because of that, they own you. Yes they can freeze it. |
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SCH
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No...but the bank can freeze it for not having a SSN...if they do not then they can be fined by OFAC. |
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