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Yosefa R. Huber, CPA is a division of KYC Israel Research Services, Ltd

©2019 by Yosefa Huber

January 14, 2020

This post was origininally published on March 2, 2017 and has been updated to reflect current filing thresholds.

Whether you owe taxes, or need to file a tax return at all, will depend on both your income and “filing status”. I’d like to present a brief overview of income and filing status, and how to figure out if you meet the filing threshold for a given year.

Not sure if you need to file a tax return? First, determine your "Gross Income" – add...

June 4, 2018

This post is not meant to be a comprehensive explanation of requesting extensions to file a tax return, and is definitely not legal advice. In the interest of time, I am posting this without my usually editing process, because you need this info NOW. Please message me with questions or edits.

If you don't have time to file your tax return by the deadline, (April 15 or June 15 for individuals outside the US in April) you can file IRS Form 4868...

May 18, 2017

In 2017 the Israel National Insurance Institute ("Bituach Leumi") will be opening long-term savings plans for every Israeli child who was under the age of 18 on December 31, 2016. Bituach Leumi will deposit ₪50 each month, plus ₪500 when the child turns 18. Young Israelis who don't touch the savings until they turn 21 receive an additional ₪500. Parents may choose to make a matching contribution of ₪50 per month, deducted from their child allowan...

February 15, 2017

The average U.S. citizen or Green card holder ("U.S. person") has two main annual requirements to report to the U.S. government. 1. Report worldwide INCOME to the Internal Revenue Service 2. Report foreign financial ASSETS to the Financial Crimes Enforcement Network (FinCEN), a division of the U.S. Department of Treasury

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