See Also: Foreign person(finance)
person to person epidemic(medicine)
third person(dictionary)
second person(dictionary)
person(dictionary)
person-to-person(dictionary)
person(1)(dictionary)
first person(dictionary)
person(2)(dictionary)
two-person(dictionary)

Foreign person (finance)


Under FIRPTA and the Economic Recovery Act of 1981, unless an exemption is granted by the IRS, upon the sale of real property owned by offshore (foreign) persons, the agency, attorney or escrow officer handling the transaction is required to withhold capital gains taxes at the closing of the sale transaction.