Quote:
Originally Posted by JeremyZ
Just for y'all's information, I asked at another forum I frequent and got another path to follow.
http://forum.miata.net/vb/showthread...34#post4715834
So it seems like I need to tell the treasury and also the IRS. I think I'm going to just bite the bullet and find an EA like scala suggested in the Miata forum. kindlekitten, is your friend a certified EA? |
Evidently that forum is restricted to members. But one thing I forgot to include in my comments to you. It's actually the bank that has to make the report to the Treasury Dept. about a large transfer of funds into the US. You're pretty much off the hook - and I suspect strongly that if there is reporting to be done to the IRS (which is part of the Treasury Dept. anyhow) that one is also on the bank.
Talk to your bank - the one that is going to receive the transfer - before you go after paid advice. They're going to charge you to "accept" the transfer and they are going to need to get the necessary information from you anyhow. Though for tax advice - and you'll probably need that once the money has been transfered and invested or whatever you plan to do with it - an EA is probably the way to go. Normally quite a bit less expensive than an CPA and much less than a tax attorney - for what amounts to better, more practical advice.
Actually, I AM a CPA - certified but not licensed. (Kind of like "shaken, not stirred" bit not nearly as sexy.) Though I've been living outside the US for a while now and may not be up to date on all the latest and greatest twists in the law.