Category: Articles

New American Transition Tax for Israeli Corporate Owners –Surprisingly Offset by a Tax Benefit, Both a Deduction and a Credit !General Information
New American tax law is not that confusing! Our Israeli clients who are corporate owners, and also happen to be American citizens (or travel to the … Read More..

EASY APPLICATION AND RENEWAL OF ITIN NUMBERS FOR AMERICAN TAX FILERSAmerican tax returns are required for many of our Israeli clients, such as those who hold businesses in the US. When an Israeli citizen or an Israeli resident is required to file an American income tax return, … Read More..

Section 965 Transition TaxThe IRS finalized regulations on Wednesday on the Sec. 965 transition tax, the “Transition Tax”, which was added to the Code by the law known as the Tax Cuts and Jobs Act. Sec. 965 applies to the last tax year of a deferred foreign … Read More..

The IRS announced on announced on January 14 that it is prepared to start processing 2018 tax returns on Jan. 28 and that it will pay tax refunds despite the partial shutdown of the federal government. The agency has been operating under a plan that has seen 88% of the … Read More..

 The Israeli Companies Law (ICL) Defines a company as a corporation formed and registered in israel

Despite all that’s been written about U.S. worldwide income taxation and complex informational reporting requirements, many individuals, particularly those living outside the U.S., remain noncompliant. Some individuals do not realize they are U.S.

citizens or tax residents. Some know they are U.S. citizens or residents but do not understand that … Read More..

Prior to the 2017 Tax Cuts and Jobs Act (Act), individual taxpayers were able to reduce their taxable income by deducting various investment-related expenses as miscellaneous itemized deductions. The Act suspended miscellaneous itemized deductions beginning in 2018 through January 1, 2026. As a result, investment advisory fees and other expenses … Read More..

Transfer pricing has gained more attention in recent years as more and more organizations conduct business internationally. With this increased activity, the IRS and other authorities around the globe have identified transfer pricing as an underused source of tax revenue.

In reality, effectively navigating transfer-pricing regulations may be less about … Read More..

The recent end of the OVDP is not the end of IRS enforcement of undisclosed offshore accounts.

For most of the past decade, the IRS has maintained a safe harbor for taxpayers who want to disclose offshore account holdings that may otherwise expose them to criminal penalties, and over the years, … Read More..

Recent changes to deductions and tax rates should guide

planning for the rest of 2018.

The Tax Cuts and Jobs Act (TCJA) made a large number of changes that affect individuals, including new tax rates, new rules for the child tax credit (“kiddie tax”), new thresholds for various capital gain rates, an … Read More..