Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

The credit bank of argricole finance,UK, is asking for COT…

Customer Question
The credit bank of argricole...
The credit bank of argricole finance,UK, is asking for COT payment in order to complete transfer of funds.
I’ve already paid transaction fee. They opened an account for me there as beneficiary to funds but funds belong to someone else who needs to receive funds in a US bank. Is this a scam? It is a large sum
Submitted: 21 days ago.Category: Tax
Show More
Show Less
Ask Your Own Tax Question
Answered in 1 hour by:
3/29/2018
Tax Professional: Barbara, Enrolled Agent replied 21 days ago
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 5,756
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
Verified

Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

Yes. It is a scam.

Whenever there is mention of a COT being required, it is a major red flag that fraud is involved.

Please let me know if I can assist you further.

Thank you and best regards,

Barb

Ask Your Own Tax Question
Was this answer helpful?
Ask Barbara Your Own Question
Barbara
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 5,756
5,756 Satisfied Customers
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.

Barbara is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,451 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

56 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

15,124 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Related Tax Questions
It is in regards to accounting... what is a transaction
it is in regards ***** ***** what is a transaction report? is for expenses that get reported each year to an accounting firm for tax reconciliation and filing business taxes... … read more
ABC Accounting Group
ABC Accounting Group
Bachelor\u0027s Degree
824 satisfied customers
Any estate tax on 401K beneficiary funds in Arizona?
any estate tax on 401K beneficiary funds in Arizona? … read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
916 satisfied customers
My daughter is both beneficiary and owner of 529 account.
My daughter is both beneficiary and owner of 529 account. When she withdrew money from 529 to pay for her part of qualified tuition expenses, she by mistake specified that it was NOT distributed to th… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Are beneficiaries required to report K-1 credits on the Form
Are beneficiaries required to report K-1 credits on the Form 1040, or is at our discretion? I'm using TAXACT software. The Form 1041 K-1 Final Year Deductions only shows credits on Line 11 A and C. Th… read more
PDtax
PDtax
Owner
Master\u0027s Degree
1 satisfied customers
I am a beneficiary of a trust that terminated on March 15,
I am a beneficiary of a trust that terminated on March 15, 2018. The trust holds securities as well as real estate. The real estate is under an agreement of sale that has multiple closing phases. Sinc… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
We are one of the beneficiaries of a charitable trust. The
We are one of the beneficiaries of a charitable trust. The trust has made final distributions. We received a schedule K-1 that shows interest and non passive income. Question concerns other informatio… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I have two questions. For Class D beneficiaries the
I have two questions. For Class D beneficiaries the Inheritance tax is 15% on the gross estate value under $700,000. The Inheritance tax has been filed and 15% tax paid. If a beneficiary is named to r… read more
Barbara
Barbara
Enrolled Agent
5,756 satisfied customers
A trust was in operation until the beneficiaries each turn
A trust was in operation until the beneficiaries each turn 30 years old. There are two beneficiaries. At age 30 each beneficiary gets their 50% share. The oldest beneficiary turned 30 a couple of year… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I am a trustee for a trust. The primary beneficiary passed
I am a trustee for a trust. The primary beneficiary passed away last year. Her will calls for the trust assets to be distributed to her children. For various reasons, the trust assets were not distrib… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Do I report (in kind) stock transfers to beneficiaries of a
do I report (in kind) stock transfers to beneficiaries of a residuary trust as it closes out in 2017? Stock transfers took place late last year and assumed date of death basis. remaining fractional sh… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Pearl, I'm the beneficiary of an irrevocable trust that owns
Hey there Pearl, I'm the beneficiary of an irrevocable trust that owns a 5 acre piece of land. The land is about to be subdivided and partially sold. I'm trying to navigate how to handle the sale of t… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
45 satisfied customers
A mother established a trust which was to be the beneficiary
A mother established a trust which was to be the beneficiary of her IRA upon her death. Her 2 daughters are beneficiaries of the trust. Following her death the IRA was distributed to the trust. The re… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I have investments with Vanguard. Are transactions taxable
I have investments with Vanguard. Are transactions taxable when I switch from one of Vanguard's funds to another in order to reduce market risk?… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Are benefits received as the beneficiary of a life insurance
are benefits received as the beneficiary of a life insurance policy taxable? … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,124 satisfied customers
According to Paperwork Reduction Act, if I use transactions
according to Paperwork Reduction Act, if I use transactions in the credit card statement as proof of receipts for expense for tax purpose, will IRS allow it?… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
My father made me his beneficiary using a benefit on death
My father made me his beneficiary using a benefit on death account. My understanding is this avoids any tax liability for me. I need to distribute the funds among my siblings. I expect the amount to b… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
45 satisfied customers
I am looking for guidance on transactions between a US
I am looking for guidance on transactions between a US corporation and it's foreign corporate owner. … read more
Carter McBride
Carter McBride
LLM
957 satisfied customers
Related to my previous question are the US beneficiaries of
Good afternoon, related to my previous question are the US beneficiaries of an offshore/ foreign trust obliged to report to the IRS that they are beneficiaries even when the trust had not distributed … read more
Tax.appeal.168
Tax.appeal.168
Principal
13 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x