Hello ALTA!
I hope you are doing good and almost ready to celebrate Christmas and New Year. ๐ฅณ๐พโ๏ธ๐๐
This week has been a wave of IRS letters, a couple of you dealing with FIRPTA in the past unfortunately sent the payment late and the buyer was charged with penalties and interest, but we won a big one and recover FIRPTA for the Title company for a fraudulent seller, so that was our highlight of the week! Very happy to were able to help.
The IRS has a lot of new, inexperienced and poorly trained employees and there has been a surge in correspondence from the Treasury Department to buyers saying "Hey you owe me for buying from a foreign seller", needles to say this freaks out buyers, realtors and title people,
How can it be? Did we send the money? How is going to pay?
Basically the IRS is saying my department is a mess and I cannot keep up, YOU do the job for me, send me proof you complied with FIRPTA deposit and sent the withholding.... Meanwhile the buyer is about to have a heart attack... it is NOT OK, it is sickening (literally and figuratively)
Do not worry!!! If you experience something like this please give us a call, we will be able to assist.
Thank you all for your attention, ๐
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Mary Enzi CAA
Tax Solutions โ FIRPTA Consulting
[email protected]
+1 (281) 578-1040
Barker TX
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