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Financial Planning / Tax Strategies
|Subject: Re: we're moving back to the states-please advis||Date: 12/8/2004 8:12 PM|
|Author: umma2three||Number: 74525 of 124931|
Thank you all for your advice.
I have actually called my bank in the states and let them know that we will be wiring money into the account and all they said was that they will make a note of it on my account. Should I talk to a manager or somone higher? They didn't seem too interested or concerned.
Also, we will be transferring more than $10,000, actually alot more. We have been able to save a higher percentage of our income here in Korea. But since we have been reporting and filing income tax, this should not be a problem as well, correct?
My understanding is that the bank will have to report this wire transfer to the IRS since it's over $10,000, but since we have been reporting our income, this shouldn't set off any bells with the IRS. Do I have this correct?
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