US citizen routing affiliate income to Russian wife's bank account?

[LargeSiberianMan]

Hi, I'm a US citizen with a Russian wife. She is not a US citizen nor does she have a green card or any kind of visa. Theoretically, I were to route my affiliate income of $50k/month to her bank account in Russia or an account under her name in Dubai, would there be any issues that could arise from this?

Yes, I'm aware she could run off with my money.

Thanks!

 

[Sols]

It depends on how you "route" the payments.

Are they at any point in a personal or corporate bank account that you control? If so, the bank from which you route the payments is aware that you are a US citizen, they are likely doing some form of reporting under FATCA, meaning the IRS is or theoretically can become aware of your account and thereby estimate your income level. When your next tax return doesn't match that, they may start digging into it. This can lead to prosecution, which isn't really effective if you're overseas (and not that big of a target). But one issue that could arise is that next time you go to renew your passport, it's refused because of an outstanding tax debt.

If the payments are going directly from the affiliate network's bank accounts to you, then directing the payments to your wife's accounts is less likely to become known to the IRS. It's probably a good idea if the affiliate accounts are in her name as well.

US taxation is something you don't want to get wrong, though, so run it by a US tax attorney.

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This is the probably the answer to your question.

 

[LargeSiberianMan]

Sols said:
It depends on how you "route" the payments.

Are they at any point in a personal or corporate bank account that you control? If so, the bank from which you route the payments is aware that you are a US citizen, they are likely doing some form of reporting under FATCA, meaning the IRS is or theoretically can become aware of your account and thereby estimate your income level. When your next tax return doesn't match that, they may start digging into it. This can lead to prosecution, which isn't really effective if you're overseas (and not that big of a target). But one issue that could arise is that next time you go to renew your passport, it's refused because of an outstanding tax debt.

If the payments are going directly from the affiliate network's bank accounts to you, then directing the payments to your wife's accounts is less likely to become known to the IRS. It's probably a good idea if the affiliate accounts are in her name as well.

US taxation is something you don't want to get wrong, though, so run it by a US tax attorney.
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Right on, thanks for the reply. Funds are never sent to an account under my control. Everything would be paid out to directly from the affiliate networks.

 

[bibing]

EU Citizen with Filipina wife here.

I use a bank account in her name in PH (big international bank). No problems at all.

I zeroed my taxes.

Try to signup to affiliate programs with her name if possible.

 

[mebuq]

LargeSiberianMan said:
Hi, I'm a US citizen with a Russian wife. She is not a US citizen nor does she have a green card or any kind of visa. Theoretically, I were to route my affiliate income of $50k/month to her bank account in Russia or an account under her name in Dubai, would there be any issues that could arise from this?

Yes, I'm aware she could run off with my money.

Thanks!
Click to expand...

if you have a contact at the bank in Dubai its much easier.

 

[LargeSiberianMan]

bibing said:
EU Citizen with Filipina wife here.

I use a bank account in her name in PH (big international bank). No problems at all.

I zeroed my taxes.

Try to signup to affiliate programs with her name if possible.
Click to expand...

Awesome, thanks for this!