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IRS Whistleblower Rule Applies to FBAR Penalty

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...

Help Your Japanese Spouse Retire in Japan by Using iDeCo

Support cross-border life From May 2022, if your Japanese spouse participates in Japan’s National Pension, he or she becomes eligible to participate in iDeCo. [i] (I am going to use “she”.) iDeCo’s name came from an Individual-type Defined Contribution pension plan....

Illinois Issues Back to Business Grant

Further COVID-19 Relief for Businesses Illinois Governor JB Pritzker released an overall economic recovery strategy, including a $250 million Back to Business (B2B) grant initiative. The recovery plan aims to assist small businesses that experienced significant...