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Do I need to pay tax with foreign wire transfer received from the company outside of US?
I was H1B resident alien until 2020, now I'm back to my home country then become NRA for US. However I still have some US bank accounts to receive wire transfer from company account outside of US. I have some questions regarding of those foreign transfer:
1. Do I need to report this money to IRS?
2. Is it considered income or just a gift?
3. Is there a limit of how much money they can send me annually before IRS taxes me?
Thanks for your help.
March 23, 2021
5:46 AM