American tax reports for American citizens living in Israel
According to American law every U.S.A. citizen must submit an annual report to the American income tax bureau (the Internal Revenue Service - I.R.S.) if he had income starting from gross 35,000 NIS a year.
In recent years the I.R.S. has increased its supervision in Israel to a great extent so that sooner or later every American citizen will be required to submit an American tax report and may even have to pay fees for the years he did not submit a report.
How will the American Tax Authorities know that I owe tax? Very simple! The State of Israel has signed on the FATCA Agreement according to which the State of Israel will receive the full details from banks, including transactions in the accounts of all American citizens who have any financial account whatsoever in Israel (- bank account, pension account, study fund account, etc.) and will report them to the American authorities.
In many cases those who submit orderly reports do not owe any taxes and they can receive tax returns from the U.S. in various circumstances such as children's allowance, tuition return, etc.; however, independent workers and those with a high income are required to pay taxes to the American Tax Authorities.
The report should be filled in professionally and with great precision. It can be reported electronically and this speeds up the process – and the money is received faster.
We can submit the annual report for you and make sure that you will receive the maximum return due to you from the U.S.A.!
Contact us: 058-3232119.