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What does the acryonym FIRPTA refer to?

April 26, 2017firpta refer

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What does the acryonym FIRPTA refer to?

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Part of the Internal Revenue Tax Code, the Foreign Investors in Real Property Taxation Act of 1980 (FIRPTA) was enacted with the intent of recovering at least a portion of the taxes (based on sale price) due on the sale of real property by a foreign seller, where the term foreign seller refers to a non-resident alien individual, corporation, partnership, trust, or estate.