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  • 1.  More FIRPTA tips and no tricks!!

    Posted 07-03-2023 14:15

    Hello Everyone!!

    A few days ago I was chatting with an Escrow officer and he told me that his company policy is, if the FOREIGN SELLER wants to form an LLC to avoid FIRPTA the LLC has to be "open" for at least 6 months for the Title company to consider selling the U.S. property under the LLC and not the individual's name, THAT IS SO WRONG,

    You, knowing that the seller is a foreign person and facilitating the avoidance of the FIRPTA compliance is considered "willful blindness", meaning you made a conscious effort to avoid learning about their FIRPTA obligations.

     

    NO I am not planning on changing anyone's policies just trying to let you know that the risks and consequences can be harsh if the FIRPTA compliance is not followed.

     

    PLEASE give us a call, we can explain to Escrow, buyer, seller, agents everyone involved the FIRPTA process and the options to recover the FIRPTA withholding.

     

    What Is FIRPTA?     https://youtu.be/yzX19A2XTIU

    Que es FIRPTA?  https://www.youtube.com/watch?v=kNcVjuJ2rSs

     

     

    HAPPY 4TH of July for all of you;

     

     

    Mary Santiago, CAA

    Office Manager

    __________________________________

    1855 Barker Cypress Rd.

    Suite 120

    Houston, TX 77084

    281 578-1040 Ofc

    832-201-9121 Fax

    www.taxss.com

     

    What Is FIRPTA?     https://youtu.be/yzX19A2XTIU

    Que es FIRPTA?  https://www.youtube.com/watch?v=kNcVjuJ2rSs

     

    For more FIRPTA Tips visit our YouTube page   

     

     

    ALTA Marketplace


  • 2.  RE: More FIRPTA tips and no tricks!!

    Posted 07-10-2023 10:57

    Hello, Good morning everyone.... 
    In Texas the "TREC contract" and the listing agreement between agents and sellers changed making emphasis on the responsibilities of buyers and sellers in regards to FIRPTA.

    In your state, what paragraph talks about FIRPTA and buyers responsibilities when purchasing a property from a foreign seller?



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

    Original Message
    ALTA Marketplace


  • 3.  RE: More FIRPTA tips and no tricks!!

    Posted 07-11-2023 14:24

    Hi Mary!

    It was so nice speaking with you.....thank you again for taking my call and answering my questions.  

    Below is my contact information and I will definitely keep yours close for future use.

    Happy Tuesday!

    Gwen



    ------------------------------
    Gwen Damone
    Tohickon Settlement Services
    New Hope PA
    +1 (215) 794-0700
    ------------------------------

    Original Message
    ALTA Marketplace


  • 4.  RE: More FIRPTA tips and no tricks!!

    Posted 07-11-2023 14:38

    Gwen:

    Thank you for calling it was a pleasure, please do not hesitate to reach out if you have any more questions, I will send you FIRPTA brochures and explainers,

     

    What Is FIRPTA?     https://youtu.be/yzX19A2XTIU

    Que es FIRPTA?  https://www.youtube.com/watch?v=kNcVjuJ2rSs

    https://youtu.be/P-mCT3zUYDs FIRPTA in Mandarin (Chinese)

     

    https://youtu.be/28yU4dV6sVI FIRPTA in Cantonese (Chinese)

     

     

    Best regards.

     

    Mary Santiago, CAA

    Office Manager

    __________________________________

    1855 Barker Cypress Rd.

    Suite 120

    Houston, TX 77084

    281 578-1040 Ofc

    832-201-9121 Fax

    www.taxss.com

     

    What Is FIRPTA?     https://youtu.be/yzX19A2XTIU

    Que es FIRPTA?  https://www.youtube.com/watch?v=kNcVjuJ2rSs

     

    For more FIRPTA Tips visit our YouTube page   

     

    Client's tax return is uploaded or sent for review when we are done with preparation. Client's signature on the electronic signature page is proof Client received the tax return and has reviewed it thoroughly. You should keep a copy for your records. If you later request additional copies, there will fee of $150 each time you ask us to reprint/upload any documents that have already been provided.

     




    Original Message
    ALTA Marketplace


  • 5.  RE: More FIRPTA tips and no tricks!!

    Posted 07-11-2023 15:32

    Quick tip;

    We say EVERY REAL ESTATE TRANSACTION IS SUBJECT TO FIRPTA UNTIL YOU COLECT A CERTIFICATE OF NON FOREIGN STATUS FROM THE SELLER

    So, if the seller has ANY of the following documents, continue the process of a regular closing

    • U.S. Passport
    • U.S. Birth Certificate
    • U.S. Naturalization documents
    • Valid U.S. Permanent Resident Cars (aka as "Green Card")

    If seller cannot provide with any of the above mentioned, the seller(s) could still be considered a U.S. tax resident regardless of their immigration status that's when you give us a call...

    A social security card or a state driver's license do not necessarily exempt a seller from FIRPTA compliance.

    There are 2 very important things you need to know in regards to FIRPTA, our company name and phone number :)  we are here to help!

    Give us a call,



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

    Original Message
    ALTA Marketplace


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