ÿþ<html><head><STYLE type="text/css"> .Top_Strip { background-color: rgb(107, 221, 209); } .Footer_Color { background-color: rgb(107, 221, 209); } .Header_Background { background-color: rgb(255, 255, 255); } .Page_Background { background-color: rgb(255, 255, 255); } .Body_Background { background-color: rgb(247, 244, 239); } .Secondary_News_Background { background-color: rgb(237, 234, 228); } A:link { font-family: Arial; font-size: 9pt; color: rgb(23, 119, 109); text-decoration: underline; font-weight: normal; } A:visited { font-family: Arial; font-size: 9pt; color: rgb(23, 119, 109); text-decoration: underline; font-weight: normal; } A:hover { font-family: Arial; font-size: 9pt; color: black; text-decoration: underline; font-weight: normal; } </STYLE></head><body marginheight="0" marginwidth="0" leftmargin="0" topmargin="0" class=""> <TABLE class=Page_Background border=0 cellSpacing=0 cellPadding=0 width="100%" height="100%"> <TBODY> <TR> <TD vAlign=top align=middle> <TABLE border=0 cellSpacing=0 cellPadding=0 width=780> <TBODY> <TR> <TD background=images/v_dot.gif><IMG src="http://app.expressemailmarketing.com/images/spacer.gif" width=1 height=20></TD> <TD> <TABLE border=0 cellSpacing=0 cellPadding=0 width=778> <TBODY> <TR> <TD class=Header_Background> <TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"> <TBODY> <TR> <TD><IMG src="http://app.expressemailmarketing.com/images/spacer.gif" width=20 height=1></TD> <TD><IMG src="http://app.expressemailmarketing.com/images/spacer.gif" width=487 height=1></TD> <TD><IMG src="http://app.expressemailmarketing.com/images/spacer.gif" width=28 height=1></TD> <TD><IMG src="http://app.expressemailmarketing.com/images/spacer.gif" width=230 height=1></TD> <TD><IMG src="http://app.expressemailmarketing.com/images/spacer.gif" width=10 height=1></TD> <TD><IMG src="http://app.expressemailmarketing.com/images/spacer.gif" width=3 height=1></TD></TR> <TR> <TD><IMG src="http://app.expressemailmarketing.com/images/spacer.gif" width=20 height=56></TD> <TD id=Title class=Header_Background ecmtype="Text" ecmdescription="Title"> <DIV style="FONT-STYLE: normal; FONT-FAMILY: Arial; COLOR: #000000; FONT-SIZE: 14pt; TEXT-DECORATION: none" width="100%"><B>XpatRefunds Newsletter Year End 2010</B></DIV></TD> <TD><IMG src="http://app.expressemailmarketing.com/images/spacer.gif" width=28 height=1></TD> <TD align=right><IMG id=Logo src="http://app.expressemailmarketing.com//images/gallery/98277/resized_165x80_XPATREFUNDS_LO_FF.bmp" ecmtype="Image" ecmdescription="Logo" ecmwidth="185" ecmheight="51"></TD> <TD><IMG src="http://app.expressemailmarketing.com/images/spacer.gif" width=10 height=1></TD> <TD><IMG src="http://app.expressemailmarketing.com/images/spacer.gif" width=3 height=1></TD></TR> <TR> <TD><IMG src="http://app.expressemailmarketing.com/images/spacer.gif" width=20 height=1></TD> <TD><IMG src="http://app.expressemailmarketing.com/images/spacer.gif" width=487 height=1></TD> <TD><IMG src="http://app.expressemailmarketing.com/images/spacer.gif" width=28 height=1></TD> <TD><IMG src="http://app.expressemailmarketing.com/images/spacer.gif" width=230 height=1></TD> <TD><IMG src="http://app.expressemailmarketing.com/images/spacer.gif" width=10 height=1></TD> <TD><IMG src="http://app.expressemailmarketing.com/images/spacer.gif" width=3 height=1></TD></TR></TBODY></TABLE></TD></TR> <TR> <TD class=Top_Strip><IMG src="http://app.expressemailmarketing.com/images/spacer.gif" width=778 height=5></TD></TR> <TR> <TD background=images/h_dot.gif><IMG src="http://app.expressemailmarketing.com/images/spacer.gif" width=778 height=1></TD></TR> <TR> <TD> <TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"> <TBODY> <TR> <TD class=Secondary_News_Background><IMG src="http://app.expressemailmarketing.com/images/spacer.gif" width=218 height=1></TD> <TD class=Body_Background><IMG src="http://app.expressemailmarketing.com/images/spacer.gif" width=560 height=1></TD></TR> <TR> <TD class=Secondary_News_Background vAlign=top> <TABLE border=0 cellSpacing=0 cellPadding=10 width=234> <TBODY> <TR> <TD vAlign=top> <DIV id=Repeater_NewsSub ecmtype="Repeater" ecmdescription="NewsSub"> <TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"> <TBODY> <TR> <TD id=itemTitle_1 ecmtype="Text" ecmdescription="News Title"></TD></TR> <TR> <TD><IMG alt="spacer (1K)" src="http://app.expressemailmarketing.com/images/spacer.gif" width=2 height=8></TD></TR> <TR> <TD id=itemTitle_1 ecmtype="Text" ecmdescription="Body Text"> <DIV style="FONT-STYLE: normal; FONT-FAMILY: Arial; COLOR: #000000; FONT-SIZE: 9pt; FONT-WEIGHT: normal; TEXT-DECORATION: none" width="100%"><SPAN style="FONT-SIZE: 10pt"> <P>December 21, 2010 </P> <P>Dear Clients,</P> <P>David, Binyamin, and the XpatRefunds staff would like to wish all of our clients and associates the best of health once again this winter.&nbsp; The past year has been quite a busy one for XpatRefunds and everyone else in the international tax reporting industry.</P> <P>Please be reminded that any and all tax information contained herein is general only.&nbsp; Please consult IRS publications, tax law, and of course your local tax professional for definitive advice on your particular situation and also note the disclaimer listed at the end of this newsletter.</P> <P>Newsletter summary:</P> <OL> <LI>2010 filing season <LI>Tax law update for 2011 and 2012 <LI>IRS tax audits <LI>Company news <LI>General reminders</LI></OL> <P><BR><BR></SPAN>&nbsp;</P></DIV></TD></TR> <TR> <TD><IMG alt="spacer (1K)" src="http://app.expressemailmarketing.com/images/spacer.gif" width=2 height=15></TD></TR></TBODY></TABLE></DIV> <DIV id=Repeater_NewsSub ecmDescription="NewsSub" ecmType="Repeater"> <TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"> <TBODY> <TR> <TD id=itemTitle_2 ecmtype="Text" ecmdescription="News Title"> <DIV style="FONT-STYLE: normal; FONT-FAMILY: Arial; COLOR: #000000; FONT-SIZE: 10pt; TEXT-DECORATION: none" width="100%"><B> <H3><FONT size=3>Disclaimer</FONT></H3></B></DIV></TD></TR> <TR> <TD><IMG alt="spacer (1K)" src="http://app.expressemailmarketing.com/images/spacer.gif" width=2 height=8></TD></TR> <TR> <TD id=itemTitle_2 ecmtype="Text" ecmdescription="Body Text"> <DIV style="FONT-STYLE: normal; FONT-FAMILY: Arial; COLOR: #000000; FONT-SIZE: 9pt; FONT-WEIGHT: normal; TEXT-DECORATION: none" width="100%"> <P dir=ltr align=justify><SUP><FONT size=2 face="Courier New">This newsletter contains general information only and cannot be relied upon for basing legal tax decisions.&nbsp; For advice on your particular situation, please consult with official IRS publications and/or your tax professional.<BR><BR>IRS Circular 230 Disclosure: To ensure compliance with requirements imposed by the IRS, we inform you that any tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any matter addressed herein. </FONT></SUP></P></DIV></TD></TR> <TR> <TD><IMG alt="spacer (1K)" src="http://app.expressemailmarketing.com/images/spacer.gif" width=2 height=15></TD></TR></TBODY></TABLE></DIV></TD></TR></TBODY></TABLE></TD> <TD class=Body_Background vAlign=top> <TABLE border=0 cellSpacing=0 cellPadding=5 width="100%"> <TBODY> <TR> <TD vAlign=top> <DIV id=NewsMain ecmtype="Repeater" ecmdescription="News Item"> <TABLE border=0 cellSpacing=0 cellPadding=5 width="100%"> <TBODY> <TR> <TD id=itemTitle_3 ecmtype="Text" ecmdescription="News Title"></TD></TR> <TR> <TD id=itemTitle_3 ecmtype="Text" ecmdescription="Body Text"> <P align=center><B><FONT size=5></P> <P style="FONT-STYLE: normal; FONT-FAMILY: Arial; COLOR: #000000; FONT-SIZE: 9pt; FONT-WEIGHT: normal; MARGIN-RIGHT: 0px; TEXT-DECORATION: none" dir=ltr align=right width=100%><STRONG><FONT size=4><FONT size=1>Ñá'Ó</FONT><BR>êèÒÕÝ ÜâÑèÙê ÙÙéÜ× ÑçèÕÑ Ñâ'Ô</P> <P><FONT face=Arial>&nbsp;</FONT></FONT><FONT size=4><STRONG><FONT face=Arial>1. 2010 Tax Filing Season</FONT><BR></STRONG></FONT><BR><FONT size=2 face=Arial>2010 tax law update</FONT></STRONG><BR></B></FONT><BR><FONT size=2>Taxpayers can file for 2010 as soon as they receive annual earnings statements including Israel form 106. Due to increased scrutiny from the IRS, we must insist that all forms 106 be signed and dated by the employer. See the section on tax audits below. </FONT></P> <P style="FONT-STYLE: normal; FONT-FAMILY: Arial; COLOR: #000000; FONT-SIZE: 9pt; FONT-WEIGHT: normal; TEXT-DECORATION: none" dir=ltr width=100%><STRONG><FONT size=2>Refundable credits</FONT></STRONG></P><FONT size=3> <P style="FONT-STYLE: normal; FONT-FAMILY: Arial; COLOR: #000000; FONT-SIZE: 9pt; FONT-WEIGHT: normal; TEXT-DECORATION: none" dir=ltr width=100%><FONT size=2>The criteria for the 2010 tax year are much the same as 2009. The $1000 child tax credit continues to be refundable. The formula for the maximum refundable amount remains at 15% of earned income in excess of the $3,000 "deductible" amount. </FONT></P> <P style="FONT-STYLE: normal; FONT-FAMILY: Arial; COLOR: #000000; FONT-SIZE: 9pt; FONT-WEIGHT: normal; TEXT-DECORATION: none" dir=ltr width=100%><FONT size=2>The Making Work Pay credit continues to be refundable for up to $800 per couple. Many clients choose to include their non-USA spouse in order to qualify for the full $800 credit. The non-USA spouse must have a valid IRS tax identification number for this purpose. </FONT></P> <P style="FONT-STYLE: normal; FONT-FAMILY: Arial; COLOR: #000000; FONT-SIZE: 9pt; FONT-WEIGHT: normal; TEXT-DECORATION: none" dir=ltr width=100%><FONT size=2>Also available is a credit for university tuition. The student must be a dependent enrolled towards a bachelor s (primary) degree in a recognized university. The maximum refundable credit is $1000. </FONT></FONT><FONT size=2><STRONG>0</STRONG></FONT></P><FONT size=5> <P style="FONT-STYLE: normal; FONT-FAMILY: Arial; COLOR: #000000; FONT-SIZE: 9pt; FONT-WEIGHT: normal; TEXT-DECORATION: none" dir=ltr width=100%><FONT size=4><STRONG>2. Tax law update for 2011 and 2012</STRONG></FONT></P></FONT><FONT size=3> <P style="FONT-STYLE: normal; FONT-FAMILY: Arial; COLOR: #000000; FONT-SIZE: 9pt; FONT-WEIGHT: normal; TEXT-DECORATION: none" dir=ltr width=100%><FONT size=2>President Obama recently signed into law the "Tax Relief Act of 2010". Of primary importance to most of us is the extension of the refundable $1000 child tax credit for years 2011 and 2012. The government will need to pass new legislation to extend the credit thereafter. Other credits such as "making work pay" and the credit for university tuition will not continue after 2010. </FONT></P> <P style="FONT-STYLE: normal; FONT-FAMILY: Arial; COLOR: #000000; FONT-SIZE: 9pt; FONT-WEIGHT: normal; TEXT-DECORATION: none" dir=ltr width=100%><FONT size=2>Many persons are considering travelling to the USA in order to obtain citizenship for children where the primary motivation is to obtain tax refunds. We encourage our clients to consult with us to evaluate this decision. </FONT></P> <P style="FONT-STYLE: normal; FONT-FAMILY: Arial; COLOR: #000000; FONT-SIZE: 9pt; FONT-WEIGHT: normal; TEXT-DECORATION: none" dir=ltr width=100%><FONT size=2>See these pages for more detailed information:<BR></FONT></FONT><FONT size=1></P> <DIV style="FONT-STYLE: normal; FONT-FAMILY: Arial; COLOR: #000000; FONT-SIZE: 9pt; FONT-WEIGHT: normal; TEXT-DECORATION: none" width="100%"> <UL> <LI><FONT size=1><A href="http://www.thetaxinstitute.com/pdfs/2010_Quick_Reference_Card_12172010_final.pdf" target="" ecmhref="" ecmtarget="">http://www.thetaxinstitute.com/pdfs/2010_Quick_Reference_Card_12172010_final.pdf</A></FONT> <LI><FONT size=1><A href="http://www.thetaxinstitute.com/tax_research_center/amt.html" target="" ecmhref="" ecmtarget="">http://www.thetaxinstitute.com/tax_research_center/amt.html</A> </FONT></FONT><B><FONT size=2>0</LI></UL></DIV></FONT><FONT size=5> <P dir=ltr><FONT size=4 face=Arial>3. IRS Audits</FONT></P></B></FONT><FONT size=3> <P dir=ltr><FONT size=2 face=Arial>The major issue this year has been increased emphasis on compliance due to the increase of international correspondence audits by the IRS, with an apparent emphasis on Israel. The availability of refundable tax credits has enticed many expatriate citizens to file tax returns for refunds. Indeed, our company was founded to service this demand as reflected by our company name. With the increased popularity in tax reporting came increased scrutiny by the IRS. The IRS has the responsibility of ensuring accurate and honest tax reporting by taxpayers. XpatRefunds has retained the services of an expert tax attorney to both advocate certain positions taken, as well as provide guidance on questionable issues and practices to ensure compliance. </FONT></P> <P dir=ltr><FONT size=2 face=Arial>Caveat - tax law is wide and complicated and contains many exceptions and provisions. The details listed herein are intended for general information only. For full details on your particular situation, please consult with IRS publications, the tax code, and your tax professional. Also please note the full disclaimer at the end of this newsletter.</FONT></P> <P dir=ltr><FONT size=2 face=Arial>The tax auditor's job is to verify that the tax return is accurate. The initial audit letter includes two important sections:</FONT></P> <P dir=ltr><FONT size=2 face=Arial><STRONG>1. Tax adjustments</STRONG>. Form 4569 adjusts the various items on the tax return. The report will typically reverse any credits, while leaving tax liabilities in place. Added to this will be an automatic 20% penalty plus interest. This indeed can result in a substantial tax bill. Keep in mind that this is an initial report only. As long as the taxpayer complies with the Information Document Request to the satisfaction of the auditor, then the adjustments, tax liability, penalties, and interest will be reversed. The approach can be summarized as "prove it or lose it." </FONT></P> <P dir=ltr><FONT size=2 face=Arial><STRONG>2. Information Document Request</STRONG>. This form details the documents that the auditor demands in order to substantiate the credits that were initially reversed (as detailed above). Typical requested documents include the following:<BR></FONT></FONT><FONT size=2></P> <UL> <LI><FONT size=2 face=Arial>Birth certificates</FONT></LI> <LI><FONT face=Arial>Yearly wage statements (Israel form 106)</FONT></LI> <LI><FONT face=Arial>One or more pay stubs</FONT></LI> <LI><FONT face=Arial>Bank statement to verify salary deposit and household expenses</FONT></LI> <LI><FONT face=Arial>Utility bill(s)</FONT></LI> <LI><FONT face=Arial>Marriage certificate</FONT></LI> <LI><FONT face=Arial>Citizenship certificates</FONT></LI> <LI><FONT face=Arial>Passports</FONT></LI> <LI><FONT face=Arial>Employment letters or contracts</FONT></LI></UL> <P></FONT><B><I><FONT size=4><FONT size=2 face=Arial>Issues of particular scrutiny include:</FONT></P></B></I></FONT><FONT size=3> <P dir=ltr><FONT size=2><FONT face=Arial>1. Citizenship. The IRS will scrutinize the date of citizenship of children claimed as tax dependents. If the child acquired citizenship after the tax year in question, then the auditor might disallow the child as a dependent and the associated credits. This is one of the principal issues that our tax attorney has been pursued with the IRS management. <B>Consult your tax professional&nbsp;for more details on this important issue as appropriate.</P></B></FONT></FONT> <P dir=ltr><FONT size=2 face=Arial>2. Earned income and foreign taxes paid. The "additional child tax credit" requires that the taxpayer report earned income to qualify for this refundable credit. The auditor will demand documentation to support the line 7 entry of form 1040. This can include annual wage summary (Israel form 106), pay slips, bank statements showing salary deposits, and statements from the employer or employment contracts. </FONT></P> <P dir=ltr><FONT face=Verdana><FONT size=2 face=Arial>3. Support of dependent children  the auditor will use documents such as the birth certificates, school records, utility bills, and government ID card to determine residence and support of the child dependents.</FONT>0</FONT></P></FONT><B><FONT size=5> <P dir=ltr><FONT size=4 face=Arial>4. Company news</FONT><BR></B></FONT><FONT size=3 face="Times New Roman"><FONT size=3 face="Times New Roman"><FONT size=2><BR><FONT face=Arial>1. </FONT></FONT></FONT></FONT><FONT size=2 face=Arial>Our main office moved to Mercaz Shatner #3 in G vat Shaul in January of 2010. We look forward to seeing you here. Phone numbers, emails, and our mailing address continue to be the same. <BR></FONT><B><U><FONT size=1><FONT size=2><BR><FONT face=Arial>Updated Payment Policy</FONT></FONT></B></U></FONT><FONT size=2></P> <UL> <LI><FONT face=Arial>Once all materials have been received and your tax return has been completed, our office will contact you and issue an invoice in NIS. </FONT> <LI></FONT><FONT size=2><FONT face=Arial>The invoice will be based on the date your tax return has been completed by us according to our published fee schedule. The exchange rate used is that published on </FONT><A href="http://www.bankisrael.gov.il/" target="" ecmhref="" ecmtarget=""><FONT face=Arial>http://www.bankisrael.gov.il/</FONT></A><FONT face=Arial>&nbsp;</FONT></FONT><FONT face=Arial> </FONT> <LI><FONT face=Arial><FONT size=2>With the exception of the application fee which is due immediately, post date separate checks (one for each year s return) for 120 days from the date of the invoice (Checks should be made out to "Yeul Sachir Ltd." (only) and mailed to our Xpatrefunds office)</FONT> </FONT> <LI><FONT face=Arial><FONT size=2>Upon receipt of payment, the tax return(s) will be released to you with filing instructions</FONT> </FONT> <LI><FONT face=Arial><FONT size=2>The check will be deposited on the 120<SUP>th</SUP>&nbsp;day UNLESS we hear from you that the refund has not arrived. If this is the case, we will begin a follow-up and deposit your check only once the refund has been received (Note: if the check becomes stale, it will need to be replaced).&nbsp;</FONT> </FONT> <LI><FONT face=Arial><FONT size=2>The original invoice amount will not be adjusted should the exchange rate have fluctuated from its date (in either direction) in terms of when your refund arrives.</FONT> </FONT> <LI><FONT face=Arial><FONT size=2>For tax returns with a zero or tax payable balance  payment is due immediately upon receipt of the invoice</FONT> </FONT> <LI><FONT size=2 face=Arial>The client is requested to return a signed and dated engagement letter to Xpatrefunds. This letter is a separate document from this application. </FONT></LI></UL> <P><FONT size=3><FONT size=3><FONT size=2 face=Arial>2. </FONT></FONT></FONT><FONT size=2 face=Arial>We hope to have our new and improved xpatrefunds.com website up and running soon!<BR></FONT><FONT size=3><FONT size=3><FONT size=2><BR><FONT face=Arial>3. </FONT></FONT></FONT></FONT><FONT size=3><FONT size=2 face=Arial>Meet the staff:<BR></FONT></FONT><FONT size=2><FONT size=2></P> <UL> <LI></FONT></FONT><B><FONT size=2><FONT face=Arial>David Waxman</FONT></B><FONT face=Arial> founded XpatRefunds in 2003. David manages compliance with tax laws, regulations, and reporting requirements, and handles all interactions with the IRS on behalf of our clients. David is a registered tax preparer with the IRS and is also enrolled to submit electronic returns and is currently pursuing designation as an IRS enrolled agent. Prior to founding the company, David worked in financial analysis in the Insurance industry in the United States and the high tech industry in Israel. He earned a Bachelor's degree in Mathematics from the University of Delaware. Email: </FONT><A href="mailto:yitz@xpatrefunds.com" target="" ecmhref="" ecmtarget=""><FONT face=Arial>yitz@xpatrefunds.com</FONT></A></FONT><FONT face=Arial> </FONT> <LI><B><FONT size=2><FONT face=Arial>Binyamin Simon</FONT></B><FONT face=Arial>, M.B.A. is the Head of International Sales and Client Support. In addition, Binyamin co-directs the organization s finance and back office operations. Prior to joining XpatRefunds in 2005, Binyamin was a financial analyst for Lehman Brothers in New York and a senior manager in high tech in Israel. Email: </FONT><A href="mailto:Binyamin@xpatrefunds.com" target="" ecmhref="" ecmtarget=""><FONT face=Arial>Binyamin@xpatrefunds.com</FONT></A></FONT><FONT face=Arial> </FONT> <LI><B><FONT size=2><FONT face=Arial>Avi Davidowitz</FONT></B><FONT face=Arial> assists Binyamin with client support. Avi is also a volunteer on call emergency medic.&nbsp;</FONT><FONT face=Arial>&nbsp;</FONT></FONT><FONT face=Arial> </FONT> <LI><B><FONT size=2><FONT face=Arial>Gerson Brusowankin</FONT></B><FONT face=Arial>, M.B.A.- tax reporter. As a level 3 certified Israeli bookkeeper, Gerson is our expert on Israeli taxes and reporting. Prior to joining XpatRefunds, Gerson was an analyst for the commerce department in the United States and a bookkeeper in Israel.&nbsp;</FONT><FONT face=Arial>&nbsp;</FONT></FONT><FONT face=Arial> </FONT> <LI><B><FONT size=2><FONT face=Arial>Ariel Rosenthal</FONT></B><FONT face=Arial>, M.S. in management - tax reporter. Ariel worked in the banking industry in the private and commercial sectors before joining XpatRefunds. In her free time, she takes care of her 7 wonderful children. </FONT></FONT> <LI><B><FONT size=2><FONT face=Arial>Steve Schlissel</FONT></B><FONT face=Arial> supports clients and quality assurance on tax reporting. Prior to joining XpatRefunds, Steve did just about everything and continues to cheerfully do so at our office.&nbsp;</FONT></FONT><FONT face=Arial> </FONT> <LI><B><FONT size=2><FONT face=Arial>Laivy Gelerinter</FONT></B><FONT face=Arial> supports clients and special projects. </FONT></FONT><FONT size=3><SUP><FONT face=Arial>0</FONT></SUP></LI></UL></FONT><B><FONT size=5> <P dir=ltr></FONT><SUP><FONT size=4 face=Arial>5. General Reminders<BR></FONT></SUP><SUP><FONT size=4 face=Arial><FONT size=3>Foreign Investment Income, bank accounts, and other financial instruments</FONT><BR></FONT></SUP></B><FONT size=3><FONT size=2 face=Arial>The IRS continues its efforts to increase enforcement of banking regulations. If you are0a U.S. citizen or U.S. lawful permanent resident (green card holder), you may have to file an annual "Report of Foreign Bank and Financial Accounts" (FBAR) with the U.S. Treasury Department. This is a separate requirement from U.S. tax returns and does not go to the Internal Revenue Service.0 Failure to comply can result in penalties.&nbsp;<BR></FONT></FONT><FONT color=#333333 face=Symbol><FONT color=#333333 face=Symbol><FONT color=#333333 face=Symbol><FONT size=2 face=Arial><BR></FONT></FONT></FONT></FONT><B><FONT color=#333333><FONT color=#333333><FONT color=#333333><FONT size=2></P> <UL> <LI><FONT face=Arial>Who must file?</FONT></FONT></B><FONT size=2 face=Arial>0Any U.S. person who has a financial interest or signature authority over one or more foreign bank account or securities account which had an aggregate value of $10,000 at any time during the year.&nbsp;</FONT> <LI></FONT></FONT></FONT><B><FONT color=#333333><FONT color=#333333><FONT color=#333333><FONT size=2 face=Arial>When?0</FONT></B><FONT size=2 face=Arial>By June 30th. That means if you had the equivalent of $10,000 in an Israeli bank or securities account in 2010, you have to file the FBAR by June 30, 2011.</FONT></FONT></FONT></FONT> <LI><B><FONT color=#333333><FONT color=#333333><FONT color=#333333><FONT size=2 face=Arial>What?</FONT></B><FONT size=2 face=Arial>0Form TD F 90-22.1 (FBAR), available at:0</FONT></FONT></FONT></FONT><FONT size=2 face=Arial><A href="http://www.irs.gov/pub/irs-pdf/f90221.pdf" target="" ecmhref="" ecmtarget="">http://www.irs.gov/pub/irs-pdf/f90221.pdf</A></FONT> <LI><B><FONT color=#333333 size=1 face=Verdana><FONT color=#333333 size=1 face=Verdana><FONT color=#333333 size=1 face=Verdana><FONT size=2 face=Arial>Where?0</FONT></B><FONT size=2 face=Arial>U.S. Treasury Department, PO Box 32621, Detroit, MI 48232-0621</FONT></FONT></FONT></FONT></LI></UL> <P align=center><FONT color=#333333 face=Arial><STRONG><FONT size=2>Make sure to keep a copy of your FBAR and supporting bank statements.</FONT></STRONG></P> <DIR> <DIR> <DIR></FONT><FONT size=3> <P dir=ltr><SUP>0</SUP></FONT><FONT size=2><SUP>0</SUP></P></DIR></DIR></DIR> <P dir=ltr align=justify></FONT><FONT size=3><SUP><FONT face="Courier New">IRS Circular 230 Disclosure: To ensure compliance with requirements imposed by the IRS, we inform you that any tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any matter addressed herein. </FONT></SUP></P></FONT><FONT size=2></FONT></TD></TR> <TR> <TD><IMG alt="spacer (1K)" src="http://app.expressemailmarketing.com/images/spacer.gif" width=2 height=5></TD></TR></TBODY></TABLE></DIV></TD></TR></TBODY></TABLE></TD></TR> <TR> <TD class=Secondary_News_Background><IMG src="http://app.expressemailmarketing.com/images/spacer.gif" width=218 height=1></TD> <TD class=Body_Background><IMG src="http://app.expressemailmarketing.com/images/spacer.gif" width=560 height=1></TD></TR></TBODY></TABLE></TD></TR> <TR> <TD class=Footer_Color><IMG src="http://app.expressemailmarketing.com/images/spacer.gif" width=778 height=5></TD></TR> <TR> <TD background=images/h_dot.gif><IMG src="http://app.expressemailmarketing.com/images/spacer.gif" width=778 height=1></TD></TR></TBODY></TABLE></TD> <TD background=images/v_dot.gif><IMG src="http://app.expressemailmarketing.com/images/spacer.gif" width=1 height=20></TD></TR></TBODY></TABLE> <TABLE border=0 cellSpacing=0 cellPadding=0 width=780> <TBODY> <TR> <TD align=right ecmtype="Text" ecmdescription="Footer/Copyright"><SPAN style="FONT-STYLE: normal; FONT-FAMILY: Arial; COLOR: #6b6a67; FONT-SIZE: 7pt; FONT-WEIGHT: normal; TEXT-DECORATION: none">%COPYRIGHT%</SPAN></TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE> </body></html>