firpta

If you are a foreign property owner who is selling US property or are buying from a foreign seller, you need to know how the FIRPTA law affects you. Learn about the tax implications and exemptions here.

Although your settlement company may take care of the filing and submission of FIRTPA withholding taxes to the IRS after closing, it is important that you understand what the Foreign Investment Real Property Tax Act (FIRPTA) is and when it applies to a real estate transaction.