Who we are
The largest US accounting firm in Israel. Founded 35 years ago in a roving Peugeot hatchback while serving US expatriates in the Israeli Negev desert.
Read on to see how the ingenuity and close personalized service has been the core of our stability. At Philip Stein & Associates Ltd., you will get to know your personal CPA who will represent your best interests.
Our main pride is our duality. We utilize our warm and veteran relationships with the leading Israeli law and accounting firms to connect our many hi-tech entrepreneurs with investors and top service professionals in Israel, the US and Europe. In addition we serve individual clients with all of their tax compliance needs.
This week Philip interviews 4 out of the 5 hottest startups in Jerusalem: What their products are about, how they got motivated and why Jerusalem is THE city for Start up’s.
The IRS has announced a new streamlined program making it much easier for people who are not in compliance or have never filed to come into compliance. The streamlined program was originally developed in 2012 to allow taxpayers who were unintentionally non-compliant with US reporting obligations to “come clean” in a manner that protected them from various penalties. The old program was found to be too constrictive allowing only non-residents who had low amounts of tax due. This program, which expands upon the success of the 2012 program, has been modified to include the following new additions:
- Both non-residents (people living abroad) and US residents can qualify
- Taxpayers can enter the program regardless of the amount of tax due
- People who have filed returns in the past but left off foreign income, can now qualify
- Elimination of the risk questionnaire
- A requirement for all taxpayers to sign a statement certifying that their failure to file was due to non-willful conduct
A taxpayer who complies with this program will not be subject to numerous penalties including failure to file, failure to pay, accuracy related penalties, information return penalties and FBAR penalties. Now is the time for US citizens living abroad, and US residents with income over seas, to easily become tax compliant. Please make an appointment with our office so we can figure out how to best maximize these new programs to suit your individual situation. You are welcome to contact Fred, email@example.com
Join us on this week’s podcast interviewing veteran banker, Jeff balsam to find out about the most common mistakes businesses make when having cash flow problems, where you should turn to when making that first financial step and how you can improve your costs of converting currency when dealing with a business that is in foreign currency.
Tune in and enjoy.
Moshe Asher: We have lists with names of many thousands of Israelis with bank accounts with significant balances. Read more…