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Buyer’s Affidavit for FIRPTA Withholding Exemption What Buyers Should Know
If you're buying a home in the U.S. from a foreign seller, there's a tax rule you need to be aware of—FIRPTA. It stands for the Foreign Investment in Real Property Tax Act. This law requires buyers to hold back 15% of the sale price and send it to the IRS when the seller is not a U.S. person.
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FIRPTA Explained: Understanding Its Impact on Real Estate Transactions
FIRPTA solutions and services affect a wide range of real estate transactions and can be complex for both foreign sellers and U.S. buyers. Understanding its requirements is essential for avoiding legal and financial penalties and ensuring a smooth transaction process.
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