web analytics
May 28, 2015 / 10 Sivan, 5775
At a Glance
News & Views
Sponsored Post


IRS Tax Regulations Prompt Olim to Revoke American Citizenship

A get-tough IRS policy on Americans living abroad has encouraged some Americans living abroad, including “olim” in Israel, to revoke their American citizenship, the Globes business newspaper reported.

The United States taxes its citizens’ income even if they have been living abroad for years, and agrees with most banks in the world now expose all of their financial accounts to the IRS and make them liable for heavy dual taxation.

One way to get avoid it is to renounce citizenship, which would preclude the IRS from chasing after people to pay taxes on income that does not come from the United States.

Changes in the Israeli tax code also have given big tax breaks to new immigrants as well as Israelis returning to the country.

“Although it is not clear how widespread this phenomenon is, and what relative importance U.S. citizens who immigrate to Israel place on this aspect among the array of considerations that they take into account in deciding to immigrate to Israel, tax residency is certainly a factor,” according to Israeli lawyers Eli Doron and Eyal Peled.

About the Author: JewishPress.com brings you the latest in Jewish news from around the world. Stay up to date by following up on Facebook and Twitter. Do you have something noteworthy to report? Submit your news story to us here.


If you don't see your comment after publishing it, refresh the page.

Our comments section is intended for meaningful responses and debates in a civilized manner. We ask that you respect the fact that we are a religious Jewish website and avoid inappropriate language at all cost.

If you promote any foreign religions, gods or messiahs, lies about Israel, anti-Semitism, or advocate violence (except against terrorists), your permission to comment may be revoked.

2 Responses to “IRS Tax Regulations Prompt Olim to Revoke American Citizenship”

  1. Yechiel Baum says:

    why pay taxes to the USA who does not benefit its own citizens.

  2. Ed Singer says:

    Israel and US still have a tax treaty, so one does not pay double taxes.
    On top of this, a US citizen who lives in Israel can earn up to $97,000 (as of 2013) overseas and not pay any taxes – just file the forms.
    An American-Israeli should speak with a proper accountant.

Comments are closed.

Current Top Story
J-Street
J Street: The Jewish Enemy Within
Latest News Stories
Islamic Republic of Iran Broadcasting Organization President Mohammad Sarafraz.

The US decides “no more extensions” as international nuclear talks with Iran come down to the wire.

Former Prisoner of Zion Natan Sharansky serves today as the Jewish Agency for Israel's Chairman of the Executive.

Jewish Agency Chairman Natan Sharansky expresses his firm support for Efrat Chief Rabbi Shlomo Riskin.

Elephants in the Water

With temperatures soaring, everyone is getting in the water…

Russian S-300 surface-to-air missile systems deployed in a military exercise.

Russia closed its deal Monday to deliver the powerful S-300 missile defense system to Iran… eventually.

Flash floods and more rain in Texas means a rising death toll and desperate people searching in kayaks.

Perhaps surprisingly, the Netanyahu government voted Wednesday to form a new ministerial committee on Arab affairs.

Shurat HaDin calls for expulsion of PA soccer chief Rajoub for inciting terror – hours before Swiss arrests of FIFA officials for various charges of corruption.

Rabbi Riskin believes the Rabbinate must be prepared to accept Halachic decisions that aren’t Ultra-Orthodox.

The case also called for banning the sale of French satire magazine Charlie Hebdo and the Liberation newspaper in Egypt over “blasphemy against Prophet Mohamed.”

Saed Erekat: Israel first must agree to all of our terms before we negotiate.

The temperature is expected to reach extreme levels today, drink water.

“In the chaos of the conflict… Hamas…granted its security forces free rein to carry out horrific abuse, amounting to war crimes.”

The Israeli Air Force responded to a rocket attack from Gaza by striking terrorist sites within the Strip.

Information on more than 100,000 US taxpayers was stolen by hackers who breached the IRS.

Hamas terrorist leaders are hiding again as Israel considers a response to Tuesday’s rocket attack.

“In the chaos of the conflict… Hamas…granted its security forces free rein to carry out horrific abuse, amounting to war crimes.”

More Articles from Jewish Press News Briefs
Rabbi Shlomo Riskin.

Rabbi Riskin believes the Rabbinate must be prepared to accept Halachic decisions that aren’t Ultra-Orthodox.

Eller-070414-Sunscreen

The temperature is expected to reach extreme levels today, drink water.

9:43 PM Barzilai Hospital in Ashkelon is currently moving patients to the bomb shelters, just to be safe. 9:37 PM The army has officially confirmed one rocket hit in Gan Yavne. Islamic Jihad has taken credit for the launch, and it was the result of internal fighting within that terror group in northern Gaza. 9:17 […]

The Office of President Reuven Rivlin has denied reports that he will receive on Thursday a citation of honor from the left-wing New Israel Fund (NIF) on Thursday. It clarified that the Jewish-Arab Center at Givat Haviva, which is funded in part by the NIF, is awarding the President. Rivlin’s office stated: The Jewish-Arab Center […]

Effort to depose Rabbi Riskin are revenge against his positions and halachic decisions.

Actress and comedienne Meara Stiller died on Saturday at age 85.

Hezbollah terror chief Hassan Nasrallah is getting very scared of Islamic State’s advances.

Printed from: http://www.jewishpress.com/news/breaking-news/irs-tax-regulations-prompt-olim-to-revoke-american-citizenship/2013/12/19/

Scan this QR code to visit this page online: