‘Israeli-Americans who did not do their tax homework at greater risk of penalties’

Dual American-Israeli citizens finally need to pay up.

After years of the US Internal Revenue Service gradually baring down on American citizens living in Israel who evaded reporting income or paying taxes and numerous rounds of amnesty for those belatedly coming forward, September 30 has passed and a new Israel-US agreement has gone into effect with teeth for those who keep trying to hide.

Source: http://www.jpost.com/Israel-News/Politics-And-Diplomacy/Tax-lawyer-IRS-lost-patience-with-offshore-stashes-470590

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