June 16, 2021
11:00 AM (Eastern Daylight Time)
The Real Property/Environmental Law Track
Presented by the Real Property Section
About the Program
FIRPTA is the IRS acronym for the Foreign Investment in Real Property Tax Act, 26 USC Sect. 897. It is becoming more common for foreign persons to own property in the United States. While there are no prohibitions on non-US citizens holding title to real
property, when those owners sell, they are subject to the same capital gains taxes as US citizens pay. Sellers and buyers, and their attorneys, need to know what to expect when dealing with a foreign seller and how to comply with the act’s requirements
that are imposed on the parties in the real estate transaction.
You Will Learn
- Why it is important to know about FIRPTA
- What types of real property transactions are subject to IRS tax withholding requirements
- What is required to comply with FIRPTA
Who Should Attend
Attorneys whose practice includes representing clients who buy and sell real estate.
1.0 CT (General); 1.0 NY (AOP)