The Foreign Investment in Real Property Tax Act (FIRPTA) requires the withholding of 10% of the sales price of real property in the U.S. when the seller is a non-resident foreign person. The 10% withholding can be reduced by a certification from the IRS that a reduced amount is permitted. Form 8288 must be filed with the IRS.
Due to our extensive dealings with World Bank, International Finance Corporation and International Monetary Fund employees, Bayer & Kaufman has learned to navigate this complex IRS process with proficiency.
If you are a non-resident in the process of selling your home or planning to sell your home in the near future, please consult with our our firm and allow us to assist you with this process.