Prior to the PATH Act of 2015 (“Protecting Americans from Tax Hikes 2015”, effective 12/18/2015), if the seller of real property is a foreign person, Federal law required buyers to withhold 10% of the gross sale price and provide it to the IRS. With the implementation of the PATH Act, this 10% tax requirement has […]
We are honored that our very own Attorney Gulati’s Article on Foreign Buying Flipside was published in the Orlando Realtor’s Legal Resource Winter Edition. This Article discusses the FIRPTA withholding in Real Estate Transactions. To read more click here.
On Thursday November 14, 2013, our very own Attorney Gulati participated in the North East Indo-US Chamber of Commerce Legal Panel with five other leading attorneys in the area. After a successful panel, she was presented with an Appreciation Award. If you missed the event, here are a few questions she answered on the panel: […]
U.S. Realtor’s, rental agents, and closing agents are encountering an increasing number of situations that involve foreign persons selling their U.S. real estate. The sale of a U.S. real property interest by a foreign person is subject to the Foreign Investment in Real Property Tax Act of 1980 (also known as FIRPTA) income tax withholding. […]