FIRPTA filing

[IsDVCForMe?]

I have bought a few international contracts, on one of them the seller requested the tax to be waived. Well it wasn’t and I got a letter from the IRS requesting payment about 3 months after closing. It does become the buyer’s responsibility in the eyes of the IRS since it’s filed under your ssn. I sent the letter onto the title agency and they got the sellers to pay for it and I got sent the proof of payment to the IRS. It all worked out but it was not fun getting the IRS notification in the mail.

That doesn’t sound like fun. Any tips for going through this process to prevent that from happening?

 

[princesscinderella]

That doesn’t sound like fun. Any tips for going through this process to prevent that from happening?

Make sure they are paid at closing vs the seller hoping a waiver is approved.

 

[IsDVCForMe?]

I have a delayed closing on a contract that should be done at the end of this month and I got an email stating that I need to call to provide my tax info (SSN) for FIRPTA filing. It's been a few months since I did all the paperwork and payment and everything for this contract.

Is this normal? I'm just worried it's some type of scam. My other contract didn't do this.

Any updates on this?

 

[Nicnicnic.nic]

Any updates on this?

Everything seems to be going well. I'm just waiting for my points to load into my account now but I know that can take weeks.

Thanks to all of your advice I double checked with my agent and after the paperwork was done I got copies of it sent to me just in case I need it down the road.

 

[IsDVCForMe?]

Everything seems to be going well. I'm just waiting for my points to load into my account now but I know that can take weeks.

Thanks to all of your advice I double checked with my agent and after the paperwork was done I got copies of it sent to me just in case I need it down the road.

You didn’t have to do anything with the new system?

 

[eticketplease]

You didn’t have to do anything with the new system?

What new system?

 

[IsDVCForMe?]

What new system?

Looks like it has to be filled electronically through the EFTPS system or at least it will have to be at some point?

 

[Nicnicnic.nic]

Looks like it has to be filled electronically through the EFTPS system or at least it will have to be at some point?

Argh. I didn't know anything about this. It seemed like they did everything for me.....I feel like I need to look into this now

 

[eticketplease]

Looks like it has to be filled electronically through the EFTPS system or at least it will have to be at some point?

Irs website still showing a physical address but perhaps I’m not looking in the right place.