Category Archives: Israel

2018 Voluntary Disclosure (Israel)

From our Israeli colleagues at Angel and Angel —————————————- 12-December-2017  Dear Colleagues and Clients, On December 12, 2017, the Israeli Tax Authority published a temporary order concerning requests for voluntary disclosure and is effective until December 31, 2019. These exclude anonymous track requests, which will remain in effect until December 31, 2018. General background From […]

Non-Resident Investors in the U.S. Real Estate Market

Non-Resident Investors in the U.S. Real Estate Market Tax Issues and Considerations Introduction The United States real estate markets have seen a strong demand from foreign investors who are seeking potentially attractive investment opportunities. In addition to important and numerous logistical and risk management considerations that the investor must contend with, the tax consequences of […]

Fraud, ID Theft and Delayed Refunds

Expect Delays! Rather than receiving refunds, many of our clients have been receiving letters from the IRS requesting “verification of identity”. The most common letter is labeled “LTR 5447C”. Another variant is labeled “LTR 5071C”. The gist of the letter is that the IRS suspects that some unknown person has commandeered your name and social […]

Israel – Tax Rates

  Generally speaking, individuals in Israel are taxed at a higher rate than in the United States. As of 2013, income tax rate for an individual in Israel:   Tax % Income (ILS) 10% 1 – 62,400 14% 62,401 – 106,560 21% 105,561 – 173,160 30% 173,161 – 261,360 33% 261,361 – 501,960 48% 501,961 […]

Israel – Documents Needed

The Israeli tax year ends December 31st and individual tax returns are due by April 30th. Most Israel residents should receive the documents they need for U.S. tax filing by March or April. These include: Form (tofes) 106 for salaried employees Mas Hachnasa issued “shuma” (Form 1301), if filed. Self employment (osek patur or atzmah’ee); […]