Tag: Foreign Account Tax Compliance Act
Bank of Israel: Gemachim Need Not Report Up to $50 Million to IRS
The pressure applied by Knesset Finance Committee Chairman MK Moshe Gafni has worked, and The Bank of Israel has instructed the banks on granting exemptions to Gemachim from reporting to the US authorities to comply with the FATCA agreement.
Israel Tax Authority: FATCA Working Both Ways, US Accounts Belonging to Israelis Reviewed
Israel received data on more than 35,000 Israeli-held accounts in US financial institutions.
Knesset Committee Approves Submission to US IRS Tax Compliance Act
The committee also succeeded in repelling the Israeli tax authority, which wanted initially to be able to use information gathered by Israeli banks for the IRS.
Haredi Party Spearheading Effort to Protect Israeli Religious Charities from US Tax Authorities
Using the US' enormous economic clout, FATCA bullies the world's financial institutions into reporting on their American clients to Uncle Sam.
US Senator Plans Lawsuit Over IRS Overseas Account Double Standard
Sen. Rand Paul plans to challenge IRS double standard aimed at Americans overseas.