Foreign Sellers Beware: FIRPTA WITHHOLDING RATE TO INCREASE TO 15%

Starting Feb. 16, 2016, settlement agents must begin retaining additional proceeds from the sale of property by foreign nationals thanks to recent changes to the Foreign Investment in Real Property Tax Act (FIRPTA). The changes were part of the year-end tax extension legislation signed into law by President Obama on Dec. 18, 2015. The bill […]