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  • 1.  FIRPTA - Popular question

    Posted 14 days ago

    Hello everyone! 

    Is only end of the day on a chipper Tuesday and we have been asked the same question several times so I thought I share with you.

    Q: If the seller has a SSN the seller is not subject to FIRPTA, is it?

    A: WRONG, if you want to exempt a seller from FIRPTA without any questions, seller has to have 1 of the following;

    • U.S. passport
    • U.S. Birth Certificate
    • U.S. Naturalization Documents
    • Permanent Resident Card

    OR Meet SPT - But remember, SPT (Substantial Presence Test) can be applicable ONLY if the seller is NOT in the U.S. under certain visa types, having a SSN does not necessarily mean the seller is a U.S. tax resident or citizen.

    We have prepared a FIRPTA checklist, that explains this and other misconceptions about FIRPTA, we also have FIRPTA videos in 4 different languages, if you are interested in getting the videos and the FIRPTA checklist send me an email, I will be glad to share that information with you.

    Please make sure you direct your sellers to a reputable, licensed tax professional with vast experience in FIRPTA so everyone involved in the transaction has peace of mind.

    Mary Enzi CAA
    Tax Solutions – FIRPTA Consulting
    +1 (281) 578-1040
    Barker TX

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