Q. What’s the definition of an Amerian abroad?
A. A life form that is hated and denied rights in the United States and every other country in the world.
April 29, 2014
AACI Special — Urgent for Americans in Israel
From: Asa Cohen, AACI National President
As many of you already know, Israeli banks are preparing to provide information about their U.S. citizen customers to the American Internal Revenue Service – in accordance with the U.S. Foreign Tax Compliance Act, also known as FATCA. Any foreign bank that refuses to comply will be subject to a variety of sanctions and penalties by the U.S. Government. Because complying with FATCA is costly for banks – including those in Israel – many are refusing to open any new accounts for U.S. citizens. There have been reports of banks asking customers with a U.S. Passport or U.S. Green Card to provide proof they are compliant with current U.S. foreign account disclosure requirements. Some banks have even gone so far as to ask customers to close…
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