Western Union
in Banking, Insurance & Loans ·
So, if I am receiving these payments, is there a possibility that the government will levy taxes on them? Thank you.
Of course there isn't any tax.
I am interested in what was mentioned earlier in this thread.
Let’s say I am earning money online through a specific website or service—for instance, investing capital for profit or trading Forex. I have my own account on the platform, and they offer several payout options: via PayPal, Moneybookers, a bank wire, or through Western Union.
If I receive funds into a foreign currency account using an Exelon card or via a direct transfer using a Routing Number, then—it is my understanding—I can likely receive funds up to $35 per year before I am forced to start explaining the origins of those funds or whether they actually need to be taxed. (Please correct me if my assumption or information is incorrect!). However, if instead I choose Western Union as my method for withdrawing that same income from the service—which, naturally, comes with higher fees—will I then be exempt from any inquiries from the government regarding whether I owe taxes, regardless of how much I transfer through them (via cash pickup)?
What is the maximum amount someone can send me in a single transaction from abroad using Western Union?