FATCA Deadlines Approach – Israeli Banks Turning Americans Away

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.

IRS vs expats

Association of Canadians & Americans in Israel

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…

View original post 146 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s