For US citizens living in Israel - As per US law all US citizens must file US tax returns reporting their worldwide income, including Israeli salaries, and prepare and e-file FBARs (Foreign Bank Account Reports) reporting their non-US bank and financial accounts, including Kupot Gemel & Keren Hishtalmut accounts. Now that the IRS has announced a new Streamlined Overseas Program with no penalties - it is the opportune time to get into compliance. Our firm - ESHEL, MARCOVICH, COHEN CPA's, with offices in Tel-Aviv, Haifa, NYC and Long Island, are experts in preparing all US tax returns. Please feel free to contact us with all of your US tax questions.
