What Is FIRPTA Tax?

 

What Is FIRPTA Tax?

FIRPTA is an acronym that stands for The Foreign Investment Real Property Tax.

If you are a foreign alien attempting to sell a piece of property that you own in the United States, your real estate agent or title company will certainly make you aware that you are responsible to pay your property tax also known in your case of FIRPTA Tax.

What Pays FIRPTA Tax?

Non-Resident aliens attempting to sell real estate property in the United States, even if they have a Social Security Number issued to them. 

Foreign corporations that have not elected to be treated as domestic corporations.

Foreign Partnerships, trusts, or estates.

Single Member LLC’s.