Things to Consider While Choosing a FIRPTA Tax Return Professionals

Firpataxs12327 Jun, 2022Finance

FIRPTA stands for Foreign Investment in Real Property Tax Act, which came into action in 1980. According to this, if someone buys a real estate property in the United States from any foreign personnel, an amount ranging from 10%-15% of the purchase price is withheld. One can file for a FIRPTA withholding tax refund to claim any overpaid withholding, which the IRS will refund once they process your tax return.