We are prepared to work on completing the forms for FIRPTA. In addition to the inheritance tax, the tax law that most affects foreign citizens who hold property in the US is FIRPTA – Foreign Investment in Real Property Tax Act.
It doesn’t matter if there was no profit in the provision or if it was a donation, it is still necessary to make calculate the retention according to the fair market value.
It is very important to send all forms to the IRS, requesting a certificate of exemption.
For your information, the government may take about three months to issue this certificate, which may cause considerable delays. Also, don’t forget to apply for an ITIN number, also known as tax ID.
If you are a nonresident doing business in the USA, you must apply for an Individual Tax Identification Number (ITIN). This usually is done when you submit a tax return or application to FIRPTA. It is also common for investors to apply when looking to qualify their properties for Section 8 Housing. Fill out our online form so we can start your process.
