"Erin" <christie.wu[at]gmail.com> wrote:

- quote -

Banks are required to report certain transactions. This is
driven more by concerns about money laundering than tax
evasion.

It sounds like you're running your client's money through
your account. Keep meticulous records and know your client.

--
Phil Marti
Clarksburg, MD

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

I wonder what kind of information banks provide to IRS or
government. I have a small business which is a contractor
for a foreign corporation. I charge .03% for the money I
help them transfer out of their US paypal account so I am
report the fees i charge as my income. But is the bank going
to report all the wire transfers to IRS? Would i have to
explain to them it is not the money I earn but only help
with the transfer?

Thanks

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >