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US Tax Law

How to open an Israeli company bank account

Opening an Israeli company bank account is more complicated than ever, particularly for companies owned by foreign nationals. The process grows exceptionally complicated when those foreign owners are US citizens. One might think that Israeli banks would be happy to open a company account with a high cash-flow. However, this is usually not the case.…

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US Citizens in Israel and the FBAR

This article addresses US citizens in Israel and the FBAR procedure. Did you know that if your Israeli bank account has a balance of $10,000 at any point during the tax year, you are required to file a FBAR?  If you fail to file an FBAR, you can face thousands of dollars in fines. You…

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Israeli American Citizens Must File US Tax Returns

Did you know that Israeli American citizens must file US tax returns annually?  This also applies to US permanent residents living in Israel. For the past few years the US Internal Revenue Service (IRS) has started to track down US citizens in Israel who have failed to file US income tax returns. What You Need to…

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