FIRPTA and Buyer Liability. Until the last few years, the Foreign Investment in Real Property Tax Act of 1980 (“FIRPTA”) was just an arcane acronym;
From the IRS “It is critical that business owners correctly determine whether the individuals providing services are employees or independent contractors. Generally, you must withhold
On January 18/22, the Treasury Department and the Internal Revenue Service issued their final regulations regarding the new 20 percent deduction on qualified business income created
See: ORS 314.258 and Oregon Administrative Rule 150-314-258. Escrow companies are required to withhold a portion of a non-resident seller’s net proceeds from the sale
By Dani Deahl@danideahl Jun 21, 2018, 1:21pm EDT The US Supreme Court has overturned a tax-related ruling from 1992, freeing state and local governments to collect billions
AFFIDAVIT OF NON-FOREIGN STATUS [This Affidavit should only be used in sale transactions being closed by escrow.] Internal Revenue Code Section 1445[1] provides
A Wrong-Headed Law? Most people have never heard of the Foreign Investment in Real Property Tax Act, commonly known as “FIRPTA” – unless they have
As most taxpayers know by now, the TCJA reduced the available mortgage interest deduction from $1,000,000, to $750,000.[1] Essentially, if one bought a home today
What follows is a summary of tips when the seller is, or may be, a “foreign person” as defined by FIRPTA: Buyer Responsibilities Under FIRPTA. If
Well, after 11 ½ months of waiting, homeowners who had a taxable distressed housing event in 2015 can rest a little easier. What with a
