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U.S. Office Address: 2319 S.W. 29 Ave., Miami, Fl. 33145
U.S.Mailing Address: 2520, Coral Way, Suite 2014, Miami, FL 33145
U.S. Number: 754-368-2330
If you’re a foreigner in the United States or are working on behalf of a foreigner in the United States looking to file a FIRPTA return, or have other accounting and tax service needs, we have what you’re looking for.
Most of our customers find that filing their return on their own is complicated, time-consuming, and confusing. To maximize the amount of their return, our clients come to us for our understanding of the process, and our ability to quickly and cost-effectively process their returns!
We will explain and guide you through the filing process so you can have peace of mind, knowing that your filings are complete and accurate.
To see if our services are a good fit for your needs, we offer a free consultation. Fill out the form on the Get in Touch page, and we’ll schedule a free consultation!
Here are the three types of services we offer.
The highest refunds allowed by law for the lowest fees, guaranteed.
which can lower or eliminate FIRPTA withholding at closing.
As required by IRS for Real Estate Closings (HUD-1)
Can procure refunds in the same year of sale (usually within 90 days), instead of having to wait until the next tax year to file for your return.
As Certified Acceptance Agents, our services will bring you peace of mind.
These certifications are for the fulfillment of ITIN and FIRPTA requirements
With us, you can keep your originals, bypassing the submission of original documents to the IRS for your applications
For accounting and tax needs, we provide the following:
If you’ve recently sold U.S. property as a foreign investor, you might be familiar with the Foreign Investment in Real Property Tax Act (FIRPTA). Under FIRPTA, the IRS requires withholding tax from the proceeds of the sale of U.S. real estate by foreign sellers.
This tax is typically withheld by the buyer or settlement agent at the time of the transaction. But what happens next, and how can you get a refund of this withheld tax? Let’s explore the process of claiming your FIRPTA withholding tax refund.
FIRPTA withholding refers to the requirement for buyers to withhold a portion of the sale price when a foreign seller sells U.S. real estate. The amount withheld is generally 15% of the sale price, though certain exemptions or reduced withholding may apply. This withholding serves as a prepayment of any taxes owed on the sale, which may be higher or lower than the actual amount due.
After the FIRPTA withholding is taken from your sale, you’re not automatically done with the IRS. You may be entitled to a refund if the withheld amount exceeds the actual tax liability based on your U.S. tax return.
To claim your FIRPTA refund, you must file a U.S. tax return (Form 1040NR for non-residents) for the year in which the sale took place. This allows the IRS to calculate your actual tax obligation and process a refund for any overpaid withholding.
The process of filing for a FIRPTA tax refund involves submitting the necessary documentation, including proof of the withholding and the tax return detailing your capital gains or other taxable income from the sale. Be sure to keep all supporting documents, such as the closing statement, FIRPTA withholding statement, and proof of your foreign status.
The timeline for receiving your FIRPTA refund varies depending on when you file your tax return. Typically, the IRS takes around 6-8 weeks to process refunds after your tax return has been filed. However, if your filing is complex or requires additional information, this process may take longer.
There are several common issues that may delay or affect your FIRPTA refund services. These include:
Filing for a FIRPTA tax refund can be a complicated process, especially for foreign investors who are unfamiliar with U.S. tax law. That’s where FIRPTA Tax Returns can assist. Our team of tax professionals specializes in handling FIRPTA withholding and refund claims, ensuring that you receive the maximum refund possible.
We’ll guide you through the paperwork, help you understand the rules and regulations, and ensure that all necessary forms are filed accurately and on time. With our assistance, you can rest assured that your FIRPTA tax refund will be processed efficiently.
If you’ve had FIRPTA withholding taken from your U.S. real estate sale, you may be entitled to a refund. The process can be complicated, but with the right help, you can maximize your refund and ensure that your taxes are filed correctly.
Contact FIRPTA Tax Returns today to start the process and reclaim your FIRPTA withholding tax refund. Let us help you navigate the complexities of FIRPTA tax filings with ease.
