Sales of real property by a foreign person (alien) within the United States are subject to the Foreign Investment in Real Property Tax Act (FIRPTA).
As of January 1, 1985, sales of real property by a foreign person within the United States are subject to the Foreign Investment in Real Property Tax Act. In most cases, escrow is instructed to deliver the funds to the IRS and to make sure that the proper IRS procedures and documentation have been complied with.
If the buyer fails to withhold the FIRPTA tax from the seller’s sale proceeds, and if the seller does not pay the required taxes on time, the buyer may be liable for either the seller’s tax or a penalty equal to ten percent of the purchase price, plus interest and penalties, whichever is less.
No. | Subject | Date | Views |
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Notice | 부동산 용어사전 | 2019.04.15 | 2193 |
Notice | 부동산 용어 (A to Z) | 2019.03.03 | 1437 |
171 | 96003 | 2019.05.29 | 167 |
170 | Music | 2018.08.26 | 169 |
169 | Chapter 9 Quiz | 2019.04.15 | 169 |
168 | Real Estate Law 6 | 2019.05.04 | 169 |
167 | Chapter 2 Review (2) | 2019.05.04 | 170 |
166 |
Secured Property Taxes
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165 | Department of Real Estate - Commissioner | 2019.06.01 | 171 |
164 | Chapter 10 Quiz | 2019.04.16 | 172 |
163 | Real Estate Law 1 | 2019.05.03 | 173 |
162 |
Chapter 2 Review (5)
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161 | A promissory note | 2019.05.27 | 177 |
160 |
1031
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159 | If a contract for sale provides that the owner is selling his home in an "as-is" condition, then | 2019.05.27 | 179 |
158 | Chapter 12 Conclusion | 2019.04.26 | 180 |
157 | Real Estate Law 29 | 2019.05.07 | 182 |
156 | Chapter 7 Quiz | 2019.04.14 | 183 |
155 | discriminate | 2019.05.22 | 184 |
154 | Open-End Mortgage | 2019.06.05 | 185 |
153 | The major concerns of state laws | 2023.07.05 | 186 |
152 | 12555 Euclid Street #31 Garden Grove, CA 92840 | 2017.07.09 | 187 |
151 | Chapter 18 Conclusion | 2019.03.23 | 187 |
150 | HUD’s advertising guidelines | 2023.07.06 | 188 |
149 | (new) Anaheim, CA 92804 | 2017.06.20 | 189 |
148 | 3 | 2017.07.19 | 191 |
147 | Chapter 1 Quiz | 2019.04.11 | 191 |
146 | Real Estate Law 104 | 2019.05.17 | 191 |
145 | Anaheim, CA 92804 new | 2017.06.19 | 194 |
144 |
route
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143 | quiet title | 2019.05.22 | 195 |
142 | Chapter 3 TEST (2nd) | 2019.03.02 | 198 |