Canadians Selling Real Estate in the USA

Canadians Selling Real Estate in the USA WHAT IS FIRPTA? Please note, this article and video is not intended as tax or legal advice. Its sole purpose is to bring awareness of potential tax liability. Whom does FIRPTA  affect? It affects  both buyer and seller. Seller, however, must be  a foreign person, aka non-resident alien of the US or a foreign corporation,partnership,trust or an estate. What is the objective behind FIRPTA? FIRPTA’s objective is basically to ensure that non-resident … [Read more...]