Hello everyone:
I want to take this opportunity to make a suggestion to you when sending a FIRPTA withholding check to the IRS.
With the holiday season around the corner, the USPS is taking much longer to deliver mail so here we go;
- Make sure you send a FIRPTA withholding CHECK instead of a money order, checks are easier to track because you can see when they cleared on your bank statement.
- Make sure you send that FIRPTA withholding check either the day of the closing or first thing the day after, or make sure to give instructions to the buyer to do it ASAP
- Make sure you send the FIRPTA withholding check with TRACKING
- Make sure you keep a copy of all documents sent along with the FIRPTA withholding check in your files
By doing this, you are in a position to resolve any issues that may arise if there is a "disconnect" between the check and the FIRPTA forms within the IRS, you will have all supporting documents to fix the matter without a sweat!
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Mary Enzi CAA
Tax Solutions – FIRPTA Consulting
[email protected]+1 (281) 578-1040
Katy TX
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