Are You a Tax Criminal?
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Are you an American citizen now living in Israel or any other country? If so,have you been paying all your U.S. taxes? You might not be aware that you still have tax obligations to the IRS, even though you are paying taxes to your current country of residence. On this weeks Goldstein on Gelt show, Doug speaks to CPA Ron Zalben, who talks about the FBAR and FATCA tax forms, what they are, and why it is so important to file them.
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tell a friendAbout the Author: Douglas Goldstein, CFP®, is the director of Profile Investment Services, Ltd, a financial planning firm located in Jerusalem. He specializes in working with clients in New York, Florida, and Israel and is a licensed financial professional both in the U.S. and Israel. Securities are offered through Portfolio Resources Group, Inc., Member FINRA, SIPC, MSRB, SIFMA. Accounts carried by Pershing LLC., Member NYSE/SIPC, a subsidiary of The Bank of New York Mellon Corporation. Neither Profile nor PRG gives tax or legal advice. Before immigrating to Israel, it is advisable to consult with a tax attorney who is knowledgeable about Israeli law. Doug’s newest book The Expatriates’ Guide to Handling Money and Taxes is available at www.expatguidetomoney.com. He hosts a weekly finance show, Goldstein on Gelt, on internet radio. Listen live or download podcasts. Toll-free from U.S. 1-888-327-6179, Jerusalem: (02) 624-2788. Follow on Twitter: @DougGoldstein or contact at doug@profile-financial.com.
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The US is the only country in the world that taxes their citizens who reside in other countries. The purpose of taxes is to benefit the citizen mainly with security but also with services. The US does not do that for the citizens residing abroad.
The US is the only country in the world that taxes their citizens who reside in other countries. The purpose of taxes is to benefit the citizen mainly with security but also with services. The US does not do that for the citizens residing abroad.