It’s a common theme: nonresident real estate investors in the U.S. on the one side, and the IRS on the other, tapping its little bureacratic foot, waiting impatiently for tax returns to be filed.
For nonresident investors in U.S. real estate, it’s not a question of IF tax returns are due. It’s only a matter of WHEN.
The “Jumpstart Our Business Strength (‘JOBS’) Act” (S. 1637) presently pending in the Senate changes the way foreigners are taxed on publicly traded REIT dividends. Capital gains distributions won’t be taxable under FIRPTA anymore. They’re going to be treated like regular old dividends received by a nonresident alien taxpayer. Cool. Let’s hope this provision goes into effect.
I spoke at the Annual Meeting of the Tax Section of the State Bar of California. more…
Tax Night 2003, sponsored by the Los Angeles County Bar Association. Topic: Foreign Investment in U.S. more…
