The agreement regulates the transfer of information to the IRS (the U.S. Internal Revenue Service) via the Israeli Tax Authority, which will receive information from Israeli financial bodies. The information relayed will include details on Israeli financial accounts held by U.S. citizens and residents, Green Card holders, or legal entities consisting of material American holdings. Additionally, the agreement enables the IRS to report on revenue from accounts held in U.S.
The agreement regulates the transfer of information to the IRS (the U.S. Internal Revenue Service) via the Israeli Tax Authority, which will receive information from Israeli financial bodies. The information relayed will include details on Israeli financial accounts held by U.S. citizens and residents, Green Card holders, or legal entities consisting of material American holdings. Additionally, the agreement enables the IRS to report on revenue from accounts held in U.S.