Israeli government enjoined from disclosing personal account information to the IRS

One disadvantage of United States citizenship is that all income from whatever source, worldwide, is subject to taxation. This is true regardless of how one obtains American citizenship; indeed, there are many "accidental Americans" who, by dint of having been born to a person with American citizenship, are technically American citizens, many of whom are now being hit with significant tax bills from the Internal Revenue Service. Renunciation of American citizenship is possible, and is being done in record numbers, but it comes at a price in paperwork if not in dollars – the Expatriation Tax. Complicating matters is the Foreign Account Tax Compliance Act (FATCA), which requires American taxpayers to report their foreign accounts to the United States Treasury. The United State has entered into various Tax Information Exchange Agreements (TIEAs) with various countries to ensure that the foreign banks give the U.S. Treasury the information required under FATCA. One such agreement is with Israel.