Foreign Investment in U.S. Real Property Tax Services

Foreign Investment in U.S. Real Property Tax Services

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Most investors (both U.S. and foreign) are unaware that special tax and withholding rules apply to every foreign person's disposition of stock in a domestic corporation, unless an exemption applies. The Foreign Investment in Real Property Tax Act of 1980 (FIRPTA) imposes U.S. income tax on a foreign person's gain attributable to the disposition of a direct or indirect interest in U.S. real property (USRPI). A foreign person that disposes of a USRPI (whether directly or through one or more partnerships) must file a U.S. income tax return, unless a special exemption applies. FIRPTA also imposes a withholding tax on any person (U.S. or foreign) who actually or constructively acquires a USRPI from a foreign person.

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