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My friend wants to wire transfer money from overseas through my account. Do I get taxed for this?

Personal Finance & Money Asked by CuriousJ on April 14, 2021

So long story short, my friend is stuck overseas outside of U.S and in order to wire his money (about $8000-9000) through a bank, he has to do it in person for international wire transfers. My friend basically has this money stuck in a U.S based bank account and wants to transfer his money to himself and rightfully so. I can theoretically receive his money through my bank account and send his money back in person but I was not sure how taxes would work in this situation and whether I would have to pay for taxes? Any advice?

EDIT: for those of you asking yes this is real I talk to him on daily basis and this is confirmed. We are both noobs at this stuff and we had no idea how this all worked. Thank you for all your advice though, I learned something new today.

One Answer

First, assume that the friend's email has been hacked, and that the request is fake.

If you can prove that the friend and the request are real, your friend could be more resourceful before asking for your help. E.g. there are many ways to transfer money that don't involve an international wire. Here's one: Wise

Answered by Orange Coast- reinstate Monica on April 14, 2021

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