Support cross-border life If IRS finds that you willfully did not report your foreign financial accounts in FBAR, under the 31 U.S.C. 532(a)(5)(c), the maximum penalty you face is higher of $129,210 or 50% of the amount in 2021. [i] This is a very serious penalty...
By Koh Fujimoto Support cross-border life If you are a US citizen who owns a Japanese company, you are subject to the very complex U.S. tax rules. Without going through the details of the rules, I focus on the danger of not consulting with appropriated tax...
By Koh Fujimoto Support cross-border life When U.S. green card holders and U.S. citizens open bank accounts in Japan, they face increasing difficulties. In this article, I describe the types of issues, reasoning why they face such issues, and how to cope with them....
By Koh Fujimoto Support cross-border life In this article, I will discuss how the IRS will treat your foreign defined benefit plan under its exit tax regulations. I will also discuss briefly the treatment of a defined contribution plan. This article is helpful if you...
ITASCA, IL (January 1, 2022) — CDH, P.C. (CDH), a leading international accounting and advisory firm, has united with Pier & Associates, Ltd. (Pier), an Illinois-based full-service accounting firm. Strategic growth is a primary initiative for both CDH and Pier....
