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 | 2202 |
Notice | 부동산 용어 (A to Z) | 2019.03.03 | 1440 |
321 | $323,000 Anaheim, CA | 2016.11.29 | 221 |
320 | Law 2 | 2019.05.03 | 220 |
319 | Townhouse/Villa- 364,888 | 2017.02.08 | 217 |
318 | Consideration | 2019.07.07 | 216 |
317 | TEST 17 | 2019.03.10 | 216 |
316 | Valuable consideration | 2019.05.22 | 215 |
315 | $375,000- 1975 W Clipper Lane #59 Anaheim, CA 92801 | 2017.01.23 | 214 |
314 | Associate Licensees | 2019.05.27 | 213 |
313 | Real Estate Practice - 39 (Understanding-Answers) | 2019.04.29 | 213 |
312 | 14-bed RCFE Facility for Sale Los Angeles County, CA | 2022.09.01 | 212 |
311 | TEST 10 | 2019.03.05 | 212 |
310 | Redding-2 | 2017.04.02 | 212 |
309 | Chapter Conclusion Chapter 16 | 2019.04.29 | 211 |
308 | PRIVATE REMARKS | 2021.12.27 | 210 |
307 | prohibit discrimination | 2023.07.06 | 206 |
306 | Chapter 13 Quiz | 2019.04.27 | 205 |
305 | Chapter 13 Conclusion | 2019.04.27 | 205 |
» | Sales of real property by a foreign person | 2023.07.04 | 204 |
303 | Passive fraud | 2019.05.31 | 200 |
302 | Garden Grove, CA 92840-$339,000 | 2017.03.17 | 200 |
301 | Real Estate Law 3 | 2019.05.04 | 199 |
300 | Chapter 3 TEST (2nd) | 2019.03.02 | 198 |
299 | quiet title | 2019.05.22 | 195 |
298 | route | 2021.09.01 | 194 |
297 | Anaheim, CA 92804 new | 2017.06.19 | 194 |
296 | Real Estate Law 104 | 2019.05.17 | 191 |
295 | Chapter 1 Quiz | 2019.04.11 | 191 |
294 | 3 | 2017.07.19 | 191 |
293 | HUD’s advertising guidelines | 2023.07.06 | 190 |
292 | (new) Anaheim, CA 92804 | 2017.06.20 | 189 |