What Is FIRPTA , and How Realtors Can Strategize With Buyers & Sellers. скачать в хорошем качестве

What Is FIRPTA , and How Realtors Can Strategize With Buyers & Sellers.

Title Manager Alexandra Nieto and Closer David Velez explain the nitty-gritty of FRIPTA. FIRPTA stands for the Foreign Investment in Real Property Tax Act. It is a United States federal tax law that applies to the sale of U.S. real property interests by foreign persons or entities. Under FIRPTA, the buyer of a U.S. real property interest from a foreign person or entity is required to withhold a percentage of the sale price and remit it to the Internal Revenue Service (IRS). This withholding is intended to ensure that the foreign seller pays any taxes owed on the gain from the sale of the property. The percentage of withholding depends on various factors such as the sale price, the nature of the property, and the tax status of the seller. The buyer is responsible for withholding and remitting the appropriate amount to the IRS, and failure to do so can result in penalties and interest. FIRPTA is important for foreign investors to consider when investing in U.S. real estate, as it can have significant tax implications for them. It's always recommended to consult with a tax professional or attorney who has experience in this area if you are a foreign person or entity considering investing in U.S. real estate. #TitleTalk is for Realtors, a weekly video series provided by New Path Title where we give tips and tools to get to the closing table faster and easier.