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Case Study: US Holiday Home Sale – FIRPTA withholding


Case Study: US Holiday Home Sale – FIRPTA withholding

Just Breve assists many clients who have sold US properties including US timeshare sales, US land sales and US holiday home sales. Here is a good case study example of how we have assisted one of our clients.

A son contacted us on behalf of his mother (retired and a UK tax payer) who had sold her second home in Fort Lauderdale, FL. The home in the USA was bought about five years ago with her late husband and was used as a holiday home. They stayed there for around 8-12 weeks a year until he passed away in 2016.

Despite the best efforts of the real estate agent, almost $20,000 was withheld under FIRPTA due to her being a non-resident. She was advised that as a non-resident she could submit a tax return at the end of 2017 and claim the tax back.

In mid-2017, he contacted Just Breve to assist with the first stage of applying for an ITIN number. Not keen to send her passport to the other side of the world and lose it for a number of weeks, they wanted a way to deal with it here in the UK and found Just Breve to assist with their ITIN application.

As an ITIN certified acceptance agent in London who could assist with applying for an ITIN number we were ideally located near Heathrow airport as his mother was flying out on holiday in a few days. Being based in Leicestershire, it was convenient to meet at a local hotel on Bath Road before her flight later in the day.

Just Breve ensured all paperwork was ready for the meeting, so all the client had to do was sign and show her passport for the certification. All paperwork was then couriered to the USA and the ITIN issued within 8 weeks.

Just Breve provides ITIN services to ensure your ITIN is issued first time and timely. As a certified acceptance agent we can:

-Help you fill out your W-7 ITIN application

- Certify and accept your passport using form W-7(COA) so you get to keep your passport and not have to mail it to the US with your application

- Call and chase on the status of your application with the ITIN office within 5 weeks of mailing all forms to the ITIN office

A Certified Acceptance Agent (CAA) can assist you in obtaining the correct TIN.

Just Breve are part of the ITIN Acceptance Agent Program. As a Certifying Acceptance Agent (CAA), we are authorised by the Internal Revenue Service (IRS) to assist alien individuals and other foreign persons with obtaining ITINs from the IRS by validating the person’s foreign status and identity.

We are based near London Heathrow and can assist individuals to obtain their ITIN number at their convenience. Are you flying in or out of Heathrow on business? We can meet you to verify all documentation near the Heathrow area or at a location that suits you.

We cover London and the surrounding areas, Heathrow and anywhere in the UK. Travel costs apply in certain cases outside of London.

Get in touch today:

e: info@justbreve.com

m: 077255 87696

CERTIFIED ACCEPTANCE AGENTS

In lieu of sending original documentation, taxpayers may be eligible to use an IRS authorized Certified Acceptance Agent (CAA).

#USProperty #SoldUSpropertyITIN #ITINUSPropertySale #FIRPTAWithholding

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T: 0208 1444 632

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