According to IRS.gov, the withholding amount on the sale of US property can be adjusted if the IRS isssues a withholding certificate. A withholding certificate is an application for a reduced withholding based on the gain of a sale instead of the selling price. Withholding agents are generally required to withhold 15% on the sale or disposition.
If an application for a withholding certificate was not applied for then the funds must be remitted within 20 days of the sale. Our passion for assisting our clients and other professionals through the complex FIRPTA process, drives our business. Countless years of experience, our commitment to education, and our relentless dedication, defines who we are.
If an application for a withholding certificate was not applied for then the funds must be remitted within 20 days of the sale. Our passion for assisting our clients and other professionals through the complex FIRPTA process, drives our business. Countless years of experience, our commitment to education, and our relentless dedication, defines who we are.
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Why Us
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FIRPTA Solutions, Inc. was built out of necessity with a core belief in education. In an industry with limited and conflicting information on FIRPTA, our primary goal is to be a resource to buyers, sellers, title companies, attorneys, and other tax professions that need help assisting their clients through FIRPTA related transactions.
Apply For A Withholding Certificate
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According to IRS.gov, the withholding amount on the sale of US property can be adjusted if the IRS issues a withholding certificate. A withholding certificate is an application for a reduced withholding based on the gain of a sale instead of the selling price. If 15% of the selling price is more than the tax you will owe on this sale, then a withholding certificate may be ideal for you.
Apply For An Itin
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Are you a person that needs to apply for an Individual Tax Identification Number, known as an ITIN? FIRPTA Solutions Inc. has Certified Acceptance Agents on staff to review your identification documents for authenticity so that you don't have to send the original to the IRS.
A Certified Acceptance Agent is a person or entity who has been authorized by the IRS to assist individuals and other foreign persons who do not qualify for a Social Security Number but who still need a ITIN to process a 1040NR or other tax schedules.Once we receive your acceptable documentation, we must complete a face-to-face interview to confirm your identity.
A Certified Acceptance Agent is a person or entity who has been authorized by the IRS to assist individuals and other foreign persons who do not qualify for a Social Security Number but who still need a ITIN to process a 1040NR or other tax schedules.Once we receive your acceptable documentation, we must complete a face-to-face interview to confirm your identity.
Remit Firpta Funds To Irs
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The sale of US real property by a foreign person is subject to the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA) income tax withholding. Persons purchasing US real property from foreign persons, certain purchasers' agents, and settlement officers are generally required to withhold 15% of the amount realized on the sale or disposition.
REQUEST DOC PREPClosing Agents Only
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FIRPTA Solutions, Inc. is always looking at ways that we can help to improve the way our referral partners do business. Title companies and closing attorneys around the nation are adopting policies that prevent them from being able to prepare the IRS forms used to remit FIRPTA funds to the IRS. They understand that these forms are considered tax returns and they want to leave that job to the tax professionals.
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