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FIRPTA is the United States’ Foreign Investment in Real Property Tax Act. When a foreign national transfers real property, the IRS withholds 15% as an estimated tax payment. This estimated tax payment is withheld regardless of the individual’s annual tax liability. This withholding is applicable on every real property transaction involving a transferor (seller) who is not a United States citizen or resident, and may also apply to a Limited Liability Company (LLC) where there are non-U.S. members.
Whether you are a title or a settlement company or an individual, we can help you with FIRPTA compliance. We can relieve you of the compliance burden by preparing the FIRPTA witholding statements for you, and offering guidance and assistance with your FIRPTA questions. For individuals, we can assist you in applying for exemptions from the 15% withholding and also in getting the withholding back from the IRS prior to filing a United States tax return. We can also file your United States tax returns to report the sale for timely return of your withholding.
With over sixty years of combined experience with international taxation, Roberge Poskus International has helped individuals from nearly every country in the world who have come to the United States to work, start & operate a business, or invest in real estate. Our staff has over sixty years of combined experience- using time-tested and proven methods to do international tax- at the most prominent and established tax firms in the United States: Ernst & Young; Deloitte and Touche; KPMG; and PriceWaterhouseCoopers.
Learn how Roberge Poskus International can help you maximize your after-tax income and profits. Our experienced staff will review your unique situation and provide you with recommendations on how you can lower your tax liability.
If there is a foreign decedent on a title, please call us and we can answer your questions.