FIRPTA withholding rates increase to 15%

The Foreign Investment in Real Property Tax Act of 1980 (aka: FIRPTA) withholding rate has been increased from 10% to 15% effective February 17, 2016. However, if the property acquired is to be used as the buyer’s residence and the property price is $1,000,000 or less, then the 10% withholding rate would still apply.




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