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Phil Jemmett

What Is FIRPTA, and How Does It Affect My Commercial Real Estate Investment?

Phil Jemmett | Posted 11.25.2013 | Business
Phil Jemmett

Before FIRPTA became law, the U.S. had no way to tax foreigners on these profits. Now, FIRPTA requires withholding from a foreigner's rental income as well as withholding from a foreigner's gains (or losses) upon disposal of U.S. real estate.