The Foreign Investment in Real Property Tax Act (FIRPTA) imposes a tax on gains from a disposition of a U.S. real property interest by a foreign person. As a general rule, to help ensure foreign persons pay income tax on their sale of U.S. property, withholding tax on the amount realized from a disposition of a U.S. real property interest is required at the time of sale, and the tax payment must be sent to the IRS within 20 days subsequent to closing.
Weaver offers a variety of tax consulting services that cater specifically to the tax and compliance needs of foreign-owned companies and individual international real estate investors. Our professionals recognize the challenges and opportunities of working toward international growth. We have a deep understanding of the complex rules and regulations surrounding foreign investment in U.S. real estate.