Good morning ALTA is FRIDAY..!!
This week went really fast, had the pleasure to talk to some of you and want to thank you for trusting us with your FIRPTA transactions, THANK YOU SO MUCH !!!
As the end of the week is here I want to discuss what are, in our opinion the BAD to WORSE times to discover FIRPTA
- The day of the closing - Call us, it still can be done, not the best time but not the worse either, can cause disappointment and even anger to the seller because he is not getting all the money he was expecting, but remember FIRPTA is a deposit and can be recovered.
- The day AFTER the closing - It is difficult because now the seller has to be informed that money has to be withheld, he actually has to "return" some of the money of the proceeds and send it as a FIRPTA deposit to the IRS.
- 20 days AFTER the closing - YIKES, this one is BAD, I am not going to lie, but if you ever discover that the time has passed by and it is now more than 20 days after the closing CALL US IMMIDIATELY, we will do our best to minimize the damage.
Please do not hesitate to give us a call should you have any questions, situations or even problems.... We want to be a resource and make FIRPTA easy for you!
Have a great weekend
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Mary Enzi
Tax Solutions – FIRPTA Consulting
Barker TX
+1 (281) 578-1040
[email protected]
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