Hello,
I am on H1B, and have received a payment check from a small company for one of my relatives, who lives in India. I am not sure, if I should submit this check in my account or not, I asked the check to be on my name, but I was not aware about the amount, its about 8k.
Any suggestions will help, the intension is to send this money to India to my relatives account.
Is it ok to submit this check in my account ?
will there be any tax implications? or
can my H1B in trouble because of this ?
Any pointers will help.
Thanks
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There are no tax implications for depositing the check and sending the money to your relatives account.
If you receive more than $100.000 from a nonresident, then the IRS requires recipients to report a foreign cash gift. IRS Form 3520 is required if you receive more than $100,000 from a nonresident alien or a foreign estate.
Thank you very much for reply.
But, my question is not about receiving payment from non resident, its actually reversed.
I received payment from a small USA company in USA, and its for my relative who lives in India. I need to send this money to his indian bank account.
The check is on my name, so I could deposit or send it, but now the problem is, I am not sure, if its ok to deposit check to my account to send it to India, or I should avoid doing that, if it could cause any tax issues for me next year? or issue for my h1b?
No, depositing the check for your relative and forwarding the money to your relative should not cause any tax implications for you.
Thank you for replying to my question.
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