Dual American-Israeli citizens finally need to pay up.
After years of the US Internal Revenue Service gradually baring down on American citizens living in Israel who evaded reporting income or paying taxes and numerous rounds of amnesty for those belatedly coming forward, September 30 has passed and a new Israel-US agreement has gone into effect with teeth for those who keep trying to hide.
Mary F. Voce, head of Greenberg Traurig’s International Tax Practice, told The Jerusalem Post on Wednesday that “now that the regulations have gone into effect, those who did not do their tax homework are at greater risk of getting penalized, because the government now has effective tools to enforce the rules.”