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| My husband and I are seperated...i received the stimulus check yesterday, Both of our names were on the check, I took it down to the bank, Only signed my name and they cashed it for me. My husband ... |
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 If we ALL stopped paying Tax.......? |
| would we MESS up the whole system if we ALL STOPPED paying taxes for, say, three months? would we all be made criminals?... |
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 STOP paying YOUR MORTGAGE? - England.? |
| Apparently I`ve heard that on the 1st March, 2008, everyone in England is going to stop paying there Mortgage payments for 6 months, in protest of mortgage Inflation....Is that right? and would that ... |
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| wanted to know if anyone got their original date back to the way it first was because I know yesterday the IRS was facing a lot of computer problems? or is it still saying the 10th or the 24th?... |
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| I owe for last season taxes still (1099) and I dont plan on filing this year, I heard somewhere that my stimulus payment will be credited to my owed taxes, is this true?... |
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| Nobody has gotten a w-2 from this company as of yet. What happens if no one gets their w-2 by the 31st?... |
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| This will be my first time filing my taxes on my computer. I file a 1040ez or 1040a, no kids, no property, single, no additional income outside of my job. What is the best software to use or does the ... |
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| For example, if I move and pay my friends $100 each to help me load the moving van, obviously no one is going to declare that as taxable income. The high-school kid who mows my lawn every couple of ... |
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Additional Details
Actually i am a software professional, that's y i am ... |
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 I am so confused. Rebate checks direct deposit..? |
| We used Turbo tax for taxes and only had the fees taken out of refund. Our 2007 refund came directly from Federal Govenment NOT SBBT (I checked my statment) Will I recieve rebate direct deposit ... |
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| I know someone who has said they made more than they did to get a bigger EIC tax refund. This person has an otherwise spotless criminal record, and is a single mom of two kids. She wants to come ... |
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| Can you please find reg the authenticity of uk online national lottery & there bankers watling county bank plc |
Mr. George McCulough
Managing Director
For: Watling County Bank Plc
The Approved Bank for UK NATIONAL LOTTERY.
Copyright © 1983 - 2007 Watling County Bank Plc.... |
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| I am a single woman who lives with her boyfriend and brings in the majority of the income to my home. Is it just easier to register myself as single?... |
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mjscdn | If a US resident receives a $300,000 gift from a non US resident, will the US resident have to pay Fed taxes.? |
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exirsman
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It depends on the nature of the transaction. If it is for services, then it will be taxed as income. If it is for buying something and you have a gain, it is a taxable capital gain. If it is a gift, there is a gift tax for gifts over $11K. There are special rules for non-resident (foreign) gifts. See the link below to IRS form. If it is a loan, then it is not taxable if there is a real contract and payments (with interest) are made back to the guy who loaned the money.
Any deposit over $10K is reported to IRS by the bank. |
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Stilwater
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It appears only the donor has to pay the gift tax and as long as the donor is not accessible to the IRS there will not be taxes |
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v b
 |
Let's see 8 answers and only one or two of any use.
If a US person (citizen or resident) receives a gift of $100,000 or more from a non-US person, they file form 3520 to state that they got the gift. There is NO TAX due with this form.
This puts the IRS on notice why they have a sudden influx of cash and reduces the problem of the IRS accusing them of unreported income in the future. |
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Shashank [ Abysmal Gale ]
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No, but you gotta notify the IRS about this. They will verify if its stolen or not, and then you'll have to pay a nominal fee. |
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Mathew
 |
There is no tax due for the receiving party in the US for federal tax purposes. Nor is there any reporting requirements for the receiving party. It would be good for that person to have some way of proving that they got this "gift" as there could be tax issues related to transactions the receiving party may make. You may have state tax issues depending on the state you live in. |
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anegron0405
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No, but he won't be able to use the money to gain him anything.
For instance if you want to buy a home, and you put down over $10k. The IRS automatically has to be notified of this, mainly to see if it was stolen or not. But the thing is you won't be able to say "i have this income" or something because you have the 300k. You can use it to buy a house in cash or cars or anything like that. Even use it to say you have assets but thats really it.
It's still good as hell to have 300k but just remember it won't work as any 'qualifying income' unless its on a tax form. |
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countryguyhfc
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Yes. Even if the gift was from your mother you would have to pay taxes on any amount over $10,000. |
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sweetheart
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yes the us resident will have to pay taxes whether it was a check or cash even if it was from ur sister or brother |
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cajunbaby
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yes if the us resident wants to stay a us resident and not get deported he should pay his taxes |
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