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More Tax Problems for U.S. Citizens with Foreign Bank Accounts in Israel

On August 28, 2011, the Supervisor of Banks at the Bank of Israel and the supervisory authorities in the US––the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation––signed a Statement of Cooperation. The Governor of the Bank of Israel, Prof. Stanley Fischer, confirmed the signing of the document. The…
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IRS Releases Final Form 706 for Estate Tax Application in 2010

The Internal Revenue Service Sept. 3 released a final 2010 Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return, to be filed for decedents who died in 2010. Form 706 is one of two that will be used by estates choosing between the modified carryover basis regime and the estate tax for property transferred…
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