Open Forum

Hello everyone:

Is a very soggy week so far in my neck of the woods, hope you are doing ok. 😊

The IRS continues its massive hiring process of thousands of personnel for different areas in the agency, one of them is the "International Department" in which FIRPTA falls into, hundreds of inexperienced and poorly trained personnel have already begun their job by mailing letters to buyers claiming FIRPTA deposits were not sent and charging penalties and interests, 

See example.

Can you imagine having just purchased a house and receiving a letter like this?

Our advice to ease this confusing and painful process.

• ü  Do not panic, this can be resolved.
• ü  Remember, FIRPTA deposit HAS TO BE SENT within the 20 days of closing to avoid penalties.
• ü  Always send all correspondence to IRS in a timely manner and with a tracking number.
• ü  Keep copies of ALL documents and forms sent to the IRS with the FIRPTA check so you can prove your case in the event that the IRS sends your buyer a penalty letter.

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Mary Enzi CAA
Tax Solutions – FIRPTA Consulting
mary.santiago@taxss.com
+1 (281) 578-1040
Barker TX
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I just wanted to recommend Mary, Marc and the team at Tax Solutions.  They were a tremendous resource on a recent FIRPTA issue that we had to deal with.  I couldn't endorse them any higher.  They took hold of the situation and got it resolved quickly and to all parties' satisfaction.  We have already sent them additional referrals, and will certainly do so again should any FIRPTA related items arise.

Thank you again Tax Solutions!

Hello everyone:

Is a very soggy week so far in my neck of the woods, hope you are doing ok. 😊

The IRS continues its massive hiring process of thousands of personnel for different areas in the agency, one of them is the "International Department" in which FIRPTA falls into, hundreds of inexperienced and poorly trained personnel have already begun their job by mailing letters to buyers claiming FIRPTA deposits were not sent and charging penalties and interests, 

See example.

Can you imagine having just purchased a house and receiving a letter like this?

Our advice to ease this confusing and painful process.

• ü  Do not panic, this can be resolved.
• ü  Remember, FIRPTA deposit HAS TO BE SENT within the 20 days of closing to avoid penalties.
• ü  Always send all correspondence to IRS in a timely manner and with a tracking number.
• ü  Keep copies of ALL documents and forms sent to the IRS with the FIRPTA check so you can prove your case in the event that the IRS sends your buyer a penalty letter.

------------------------------
Mary Enzi CAA
Tax Solutions – FIRPTA Consulting
mary.santiago@taxss.com
+1 (281) 578-1040
Barker TX
------------------------------