Hello!!
We are asked this question a lot.
WHO IS RESPONSIBLE FOR THE FIRPTA COMPLIANCE ?
And I want to ask YOU,
- Do you ask the buyer to complete the FIRPTA forms?
- Once the FIRPTA forms have been completed, do you give them to the buyer with instructions as to where to send them?
- Does your Title company sends all the FIRPTA forms to the IRS with the withholding check?
Buyer is responsible to withhold, FIRPTA deposit is seller's money, Title company makes sure the parties involved are informed, withholds the FIRPTA deposit from the proceeds of the sale....
If you have questions, give us a call, send us an email or send me a message here on ALTA, I am eager to help you and make FIRPTA easy for you!
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Mary Enzi
Tax Solutions – FIRPTA Consulting
Barker TX
+1 (281) 578-1040
[email protected]
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