What legal issues or taxes issues implies, if I get a huge deposit on my U.S. Checking account?



What legal issues or taxes issues implies, if I get a huge deposit on my U.S. Checking account, if my average for the last 5 years have been really low. All this for me been a foreing person, not US Citizen. And the money comming from a well known bank in the US.

One Reply to “What legal issues or taxes issues implies, if I get a huge deposit on my U.S. Checking account?”

  1. There is no tax issue related to making a bank deposit. But where you got the money determines whether there will be taxes or legal issues.

    For example, if someone gives you $5,000 as a gift, you do not owe any taxes because gifts aren’t taxable. But if you get a $20,000 bonus from your job, you will owe income tax because wages are subject to income tax.

    If the deposit is in cash, there will be forms to fill out if the amount is over $10,000. If the deposit is by check or bank transfer, there are no forms.





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