FIRPTA (Foreign Investment in Real Property Tax Act) can lead to serious consequences if ignored—buyers, sellers, and real estate professionals alike face penalties, interest, and even the potential for property confiscation if FIRPTA compliance is overlooked. Don’t let FIRPTA mistakes cost you big. Let’s dive into what’s at stake and how you can protect yourself!
Read MoreAs a real estate professional, you juggle many responsibilities. While it's tempting to leave complex issues like FIRPTA (Foreign Investment in Real Property Tax Act) to others, doing so can lead to serious consequences for both you and your clients. Understanding FIRPTA is essential for protecting your clients, your reputation, and your career.
Read MoreThe Foreign Investment in Real Property Tax Act (FIRPTA) is a crucial piece of legislation in the U.S. real estate market, affecting foreign investors who buy or sell property in the United States.
Despite its significance, there remains a considerable lack of knowledge and understanding of FIRPTA among both foreign investors and real estate professionals. This blog aims to explore the 5 reasons behind this knowledge gap and what it means for you.
If you’ve sold U.S. real estate as a foreign investor or represented one, you might be entitled to a FIRPTA (Foreign Investment in Real Property Tax Act) refund. Navigating the process can be tricky, but with the right guidance, it becomes much simpler.
Read MoreIf you're a foreign investor dealing with U.S. real estate, or you represent someone in the middle of a FIRPTA transaction then you've probably heard of FIRPTA, the Foreign Investment in Real Property Tax Act of 1980. FIRPTA ensures that foreign investors pay U.S. taxes when they sell or dispose of U.S. real estate.
Read MoreA foreign seller, for FIRPTA purposes, includes any individual, corporation, partnership, trust, or estate that is not considered a U.S. person. The Foreign Investment In Real Property Tax Act, also known as FIRPTA is a withholding tax that Foreign Sellers are subject to. However, it is important to note that this does not include Resident Aliens.
Read MoreIn the dynamic world of real estate, staying informed about legislative changes is crucial to provide top-notch service to your clients. As many of you are aware there is some major turmoil taking place around the world right now.
Read MoreIn the fast-paced world of real estate, understanding every aspect of the industry is crucial for smooth transactions. With foreign sellers coming into the U.S. in record numbers, and new foreign ownership laws being passed every day, now more than ever understanding FIRPTA is vital if one wants to work with foreign clients.
Read More