Every US citizen, regardless of their country of residence, is legally required to report all their income and financial assets to the US tax authorities (IRS). This obligation also applies to those who have never lived in the US, “second-generation” individuals born in Israel, and those who previously lived in the US and left. Unfortunately, many US citizens living abroad are unaware of this reporting obligation. Whether they have never filed returns, stopped reporting over the years, or chose to report only partial information—each of these situations is considered non-compliance with US tax laws.
Non-compliance with reporting obligations has numerous consequences. Among other things, it can lead to heavy fines or criminal proceedings by the US tax authorities, prevent or delay the receipt of inheritances, gifts, or the transfer of savings from the US (as Israeli banks often require proof of US tax compliance as a condition for receiving funds), thus leading to stress and unpleasantness in daily life.
For those in such a situation, the US tax authorities have created a special program designed to help them regularize their status: Streamlined Foreign Offshore Procedures. Our team of accountants is well-versed in the details of this program and the nuances of US tax law, having successfully helped hundreds of clients regularize their status in recent years. We have an in-depth understanding of the unique challenges faced by US citizens living outside the US, and know how to navigate the complex and changing regulations and laws—while optimally minimizing their tax liability, avoiding or canceling penalties, and closing criminal proceedings.
Above all, we aim to provide peace of mind.
