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What is FIRPTA | Real Estate Foreign Taxes

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FIRPTA or the Foreign Investment Real Property Tax Act allows the US to withhold 15% of the gross proceeds of the sale of a foreign sellers’ real estate property. The US requires a foreign seller to file the appropriate taxes in order to receive the full proceeds. Depending on the sale of the property, a foreign seller may receive all proceeds back. Before you seal the deal on your property, talk with a qualified CPA about FIRPTA.

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