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Mary Enzi

Tax Solutions – FIRPTA Consulting

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Tax Solutions – FIRPTA Consulting

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Posted By Mary Enzi 05-09-2024 11:21
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Genady: We have been in business for almost 20 years, as a tax firm, we have a lot of sensitive information about all our clients, we had NEVER received so many phishing emails until we began working with the title industry, every scam email we receive is pretending to be from a title company, we have ...
Posted By Mary Enzi 05-09-2024 11:20
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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, ...
Posted By Mary Enzi 05-01-2024 10:10
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Hello ALTA: I want to share with you a situation we came across with last week, a title company reached out to us after they closed a transaction involving a seller exempt from FIRPTA under the SPT rules, the buyer received an IRS letter and I thought, this is one of so many IRS letters sent for no ...
Posted By Mary Enzi 05-01-2024 10:09
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It is so scary, we were in a conference where we were played a recording of the scammers impersonating one of the parties in a real estate transaction and another recording with the real person, you could not tell the difference. Thank you Genady, your information is always outstanding and very ...
Posted By Mary Enzi 04-15-2024 15:42
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Victoria, FTA (First Time Abatement) is a resource, however, if the penalty is not owed why burned that bridge? Like I posted a few months ago, the IRS is hiring hundreds of personnel and they are clueless, poorly trained and in some instances just plain lazy. We just had a case where the new IRS ...
Posted By Mary Enzi 04-02-2024 13:42
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Edwin: Thank you for asking, since the title company approached us, and the listing agent was also aware of the compliance, I first communicated to the seller and his agent that the attorney's advice was incorrect, I sent them the section of the IRS code, paragraph and supporting information so they ...
Posted By Mary Enzi 04-01-2024 12:19
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Hello everyone, I hope you all had a great weekend; I want to take this opportunity to share a situation we encounter last week. The seller called our office requesting our services to complete FIRPTA paperwork, he stated that even when he was granted an investor's visa, he does not spend more than ...
Posted By Mary Enzi 03-29-2024 14:17
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Janis: This is so great, food for thought, I can't wait to read all the information that is coming. Happy Easter to everyone. ------------------------------ Mary Enzi CAA Tax Solutions – FIRPTA Consulting mary.santiago@taxss.com +1 (281) 578-1040 Barker TX ------------------------------
Posted By Mary Enzi 03-25-2024 10:10
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Hello! Today is the day!! Stop by our booth to say HI, we would love to meet you in person. ------------------------------ Mary Enzi CAA Tax Solutions – FIRPTA Consulting mary.santiago@taxss.com +1 (281) 578-1040 Barker TX ------------------------------
Posted By Mary Enzi 03-11-2024 15:23
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Hi ALTA: Spring Break already!! Wow, time really flies, we are all busy and boy, foreign sellers are getting "creative" when it comes to attempt avoiding FIRPTA compliance, many are misguided into forming an "LLC's" that only create way more tax compliance, not knowing that in most cases, they are still ...
Posted By Mary Enzi 02-29-2024 14:55
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America: Thank you for your trust and for your kind comments, please do not hesitate to reach out to us should you have questions, we are glad we were able to clarify the matter for you. Best regard ------------------------------ Mary Enzi CAA Tax Solutions – FIRPTA Consulting mary.santiago@taxss.com ...
Posted By Mary Enzi 02-29-2024 14:55
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America: It was a pleasure talking to you, we are glad we were able to give you the answers you needed, please know that you can call anytime you have questions, we will always be glad to assist you. Thank you for your kind words. ------------------------------ Mary Enzi CAA Tax Solutions – ...
Posted By Mary Enzi 02-20-2024 15:20
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Oh, I love this, it gives us all an opportunity to stop and re-think, to me HUMBLENESS is probably the most important trait of a person, no matter how smart, proficient, achieved or even powerful a person might be, humbleness is very difficult to master and arrogance is always the louder voice. ...
Posted By Mary Enzi 02-20-2024 10:04
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Hello ALTA; We get this question often and I thought I share the information with you. Q; Why a person with a SSN is subject to FIRPTA? A; There are many instances in which a NRA (Non-resident Alien) may have a SSN; below a few or the most common ones; The NRA is an international student ...
Posted By Mary Enzi 02-06-2024 22:48
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Hello All As a result of all the confusion and controversy surrounding the electronic filing of 1099's many of you called our office asking, among others, one particular question. What do I do if I don't have a TIN to include on a 1099-S? The IRS has guidelines to issue an ITIN and the W7 application ...
Posted By Mary Enzi 02-02-2024 12:31
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Arthur: I prepared this "quick FIRPTA datasheet" let me know if this is something you find useful. ------------------------------ Mary Enzi CAA Tax Solutions – FIRPTA Consulting mary.santiago@taxss.com +1 (281) 578-1040 Barker TX ------------------------------
Posted By Mary Enzi 02-02-2024 11:57
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Posted By Mary Enzi 02-02-2024 10:56
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Hi everyone, If you e-file the 1099-S, the due date is March 31st. The January 31st due date is for 1099-NEC filers. I have put together an excerpt of the relevant IRS guidance regarding 1099-S filing. We normally limit our practice to FIRPTA matters, however since we have been getting a lot of inquiries ...
Posted By Mary Enzi 02-01-2024 16:14
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Hi Arthur: Yes absolutely, you can check the IRS website https://www.irs.gov/individuals/international-taxpayers/firpta-withholding https://www.irs.gov/individuals/international-taxpayers/definitions-of-terms-and-procedures-unique-to-firpta We also collaborated with the VLTA, here is the link ...
Posted By Mary Enzi 02-01-2024 14:42
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Lorie, Is the LLC in question a "sole member LLC"? If so, you can issue the 1099 using the SSN or ITIN of the single member. If you have the SS-4 letter from the IRS, the information on what kind of LLC is in the letter, see example below. I hope this is useful ------------------------------ ...