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The Foreign Investment in Real Property Tax Act is a federal tax law that requires buyer withhold a percentage of the sale price when purchasing U.S. real estate from certain foreign sellers. The withholding is intended to ensure that any U.S. tax liability is collected. However, the withheld amount is not always the final tax due. Depending on the seller's actual gain, deductions, and tax situation, a portion or even all of the withholding may be refundable after filing the required U.S. tax return. Saving this information can help foreign investors understand their obligations before closing a property transaction and avoid costly mistakes during the refund process.
COMPANY INFORMATION
COMPANY NAME: FIRPTA ...
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The Foreign Investment in Real Property Tax Act is a federal tax law that requires buyer withhold a percentage of the sale price when purchasing U.S. real estate from certain foreign sellers. The withholding is intended to ensure that any U.S. tax liability is collected. However, the withheld amount is not always the final tax due. Depending on the seller's actual gain, deductions, and tax situation, a portion or even all of the withholding may be refundable after filing the required U.S. tax return. Saving this information can help foreign investors understand their obligations before closing a property transaction and avoid costly mistakes during the refund process.
COMPANY INFORMATION
COMPANY NAME: FIRPTA Tax Returns
ADDRESS: 2319 S.W. 29 Ave., Miami, Fl 33145, United States
PHONE NUMBER: +1(754) 368-2330
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