MoneyGram,WesternUnion taxes issue?
If i receive more than $15,000 per year via Moneygram/WesternUnion, do i have to report/or file a federal tax return? If so, what forms?
Attorney Answers
3
Christopher Larson ·
How you receive money is irrelevant. If it were payment for wages, you would have to pay as if it were wages. If it is a gift, then you don't need to report anything. The person giving the gift does because it exceeds the $13,000 annual gift exemption. They can also make a joint election on their return if they are married and they can give you $26,000 annually.
Christopher Larson
Insight Law
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0 upvotes
M. Todd MillerTax LawyerJefferson City, MO ·
If wages yes....if a gift no.
0 upvotes
Raphael Moore ·
It all depends the source and purpose of funds.
0 upvotes
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