PLR Can Help!
The Foreign Investment in Real Property Tax Act, or FIRPTA, imposes specific tax obligations on foreign individuals and entities selling U.S. real estate. If you’re buying or selling property as a foreign investor, PLR is here to help you navigate FIRPTA requirements and ensure compliance.
Under FIRPTA, buyers must withhold a portion of the sale price and remit it to the IRS as a tax payment on behalf of the foreign seller. The withholding can be reduced or eliminated if certain exceptions are met, but it requires proper documentation and timely filings.
Your PLR team works with both buyers and sellers to manage FIRPTA withholding requirements. We’ll help foreign sellers apply for withholding certificates to reduce their tax burden and ensure buyers meet their obligations to avoid penalties.
Real estate transactions can be complex, especially when foreign investments are involved. Let PLR guide you through FIRPTA compliance, so your transactions are smooth, compliant, and financially sound.
