FIRPTA Withholding Information for Foreign Nationals or Foreign Corporations

Foreign Corporations or Foreign Individuals selling real estate in the United States may subject to a 10% withholding tax surcharge. Only a CPA is qualified to make the determination of the tax liability for the individual or corporation

The form that must be filed is IRS form 8288B . To be successful in obtaining a reduction, the request needs to be made 3-4 weeks prior to the closing date. Most accountants charge $500-$750 per transaction for this completion of this form. This may sometimes be paid at closing.

We highly recommend the following accountant to our clients:

Monte Gordon, CPA
Berenfeld, Spritzer, Schechter & Sheer
9655 South Dixie Highway, 3rd floor
Pinecrest, Florida 33156
Phone 305-274-4600 Fax 305-274-4601
mgordon@bass-cpa.com