What is the name of your state? Texas
I read some earlier posts in this forum but still I need some clarification.
I am a judgment debtor from Texas. I am visiting my native country, Philippines. I want to bring (carry) some cash (less than 10,000) to my sister and this cash will be given as a gift to my sister by her husband’s sister who is in Philippines. Once I bring that cash and give to my sister, she deposits in her account. My sister and my sister's husband sister, both, requested me to help them by carrying this cash from Philippines and give to my sister: this cash does not belong to me at all. My passport will prove that I made this visit to Philippines.
I have two questions:
(i). if IRS come after my sister asking if that cash deposit is unreported income, and I give an affidavit stating that I carried that cash from Philippines (as a gift given to her by relatives in Philippines) and gave that cash to her then will it be enough to convince the IRS that the money is not an income to my sister? If not, what else I (or my sister) need to do
(ii). Whether carrying and giving that money (belongs to someone) to my sister will come under fraudulent transfer https://statutes.capitol.texas.gov/Docs/BC/htm/BC.24.htm if my judgment creditor ever learned that I carried that gifted cash from Philippines to give to my sister? If so, how to prove that it is not fraudulent transfer?
I read some earlier posts in this forum but still I need some clarification.
I am a judgment debtor from Texas. I am visiting my native country, Philippines. I want to bring (carry) some cash (less than 10,000) to my sister and this cash will be given as a gift to my sister by her husband’s sister who is in Philippines. Once I bring that cash and give to my sister, she deposits in her account. My sister and my sister's husband sister, both, requested me to help them by carrying this cash from Philippines and give to my sister: this cash does not belong to me at all. My passport will prove that I made this visit to Philippines.
I have two questions:
(i). if IRS come after my sister asking if that cash deposit is unreported income, and I give an affidavit stating that I carried that cash from Philippines (as a gift given to her by relatives in Philippines) and gave that cash to her then will it be enough to convince the IRS that the money is not an income to my sister? If not, what else I (or my sister) need to do
(ii). Whether carrying and giving that money (belongs to someone) to my sister will come under fraudulent transfer https://statutes.capitol.texas.gov/Docs/BC/htm/BC.24.htm if my judgment creditor ever learned that I carried that gifted cash from Philippines to give to my sister? If so, how to prove that it is not fraudulent transfer?
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