Lori B. Miller, P.C. is a solo practice law firm owned and operated by Lori B. Miller.
Lori earned her J.D. from Boston University law school, and her LL.M. in tax from the University of Washington in Seattle. She has over 20 years of experience providing tax, business and estate planning services. Lori B. Miller, P.C. provides legal services in three primary areas of concentration: withholding agent services under the Foreign Investments in Real Property Tax Act of 1980 (FIRPTA); business law; and estate planning and estate administration.
FIRPTA Fact of Fiction
1. I am buying US property from a US citizen who lives in Canada. No withholding is required. TRUE 2. I am a US citizen buying US property from a Canadian. If the withholding obligation is not met, the IRS may charge me a penalty. TRUE 3. I am a French citizen selling property. I… Read more »
FIRPTA WITHHOLDING: THE TITLE COMPANY’S CHALLENGE
The Foreign Investment in Real Property Tax Act of 1980 (FIRPTA) requires withholding on the sale of US real property by a non-US person or entity. The buyer must remit the withheld funds to the IRS within 20 days of the date of closing. There is also an obligation to accurately complete and submit withholding… Read more »