In recent years, more and more taxpayers choose to submit the reports themselves, thus increasing the likelihood of mistakes. CPA Yoram Shifer details a series of aspects that you must take into account.
The more substantial the correction, the more likely it is that the taxpayer will be summoned for a hearing on the assessment and, of course, for all tax years that have not yet expired. Do you still decide to go the independent route? Here are some tips on how to submit your annual report to the income tax authorities. The Tax Authority Spokesperson: At the beginning of May, business owners and also some Israeli citizen employees will be required to submit their annual reports for the previous tax year. After examining the documents, an error or deficiency was found in 47.2% of the reports. It is not possible to amend a report after the statute of limitations, which is currently three years from the end of the tax year in which the report was submitted (4 years with the administrator's approval) - after which the assessment became a final assessment.