Does IRS consider "money transfer" as a source of taxable income? Especially if the money was from a foreign person who sent to a U.S citizen with the purpose of "investment" or to "open business" through an international bank such as Citibank or HSBC.
No. Unlike other countries, the US does not tax bank deposits or money transfers. Note that certain international transfers of currency may be subject to financial reporting (but not taxes). Specifically, the transfer of $10,000 or more in cash (regardless of currency), checks and certain other instruments must be reported to the US Treasury or declared to US Customs if you are carrying them on your person while crossing into or out of the US. These rules do not apply to wire transfers between banks or the delivery of checks or currency through common carriers (e.g. UPS, FedEx) or the US postal system.
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