Click for exceptions to FIRPTA
If you advise the purchaser on the closing date or before, that you have applied for a Withholding Certificate from the IRS the purchaser or his agent will not remit the 10% FIRPTA and wait for the certificate and remit the amount approved by IRS.
Click for information on Withholding Certificate
The seller is required to file an application on form 8288-B together with backup information. IRS will normally respond in 90 days.
Click for how to apply for a Withholding Certificate
For more information on interesting tax matters visit our website tavana.ca
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