United States Department of Commerce Statistical Forms for Foreign Investors in United States Real Estate (FIRPTA)
If a foreign investor acquires at least a 10% voting control of a United States commercial real estate property, in addition to income tax filings, they will be required to file information forms with the United States Department of Commerce, Bureau of Economic Analysis (“BEA”). These reports filed by the foreign investors are not made…Read Article
PRESIDENT TRUMP SIGNS INTO LAW CARES ACT On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief and Economic Security (CARES) Act, which provides relief to taxpayers affected by the novel coronavirus (COVID-19). The CARES Act is the third round of federal government aid related to COVID-19. Summarized of the top provisions…Read Article
Key Answers to the Top Ten Questions on the New Limits Governing Interest Deductions for FIRPTA Blocker Corporations
Interest Deduction Limit under TCJA Under the Tax Cuts and Jobs Act of 2017 (TCJA), the deduction for interest paid or accrued to a related or unrelated party is limited to the sum of the taxpayer’s business interest income and 30% of adjusted taxable income for the year. For taxable years before 2022, the limitation…Read Article
Form 8288-B May Reduce a Foreign Investor’s FIRPTA Withholding Tax Liability on Sale of a U.S. Real Property Partnership Interest
Foreign investors are often motivated to acquire U.S. real property when considering the opportunity for appreciation in value and a profitable return on investment. There are different investment structuring alternatives that may attract foreign investors to the U.S. real estate market. A common typical structure that has certain advantages is the U.S. blocker corporation. The…Read Article
Foreign Investors in U.S. Real Property May Reduce FIRPTA Withholding Tax Liability by Filing Form 8288-B Exemption Certificate Application
Foreign investors often invest in commercial and residential real property located in the United States. The economic advantages of U.S. real property investment include the opportunity for appreciation in value and a profitable return on the investment. The Internal Revenue Service has noted a “phenomenal rise” in foreign investment in U.S. real property due to…Read Article
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