Pioneering a path through paperwork and tax codes

A Place in the Sun Live – NEC Birmingham

Over 6,500 property hunters attended A Place in the Sun at NEC Birmingham in September. Despite this being the first event since the Brexit vote took place, attendees demonstrated a strong enthusiasm for purchasing a property out side of the UK. Alan and Susan Harding met many with clients on the stand as well as… Continue Reading

Arrests Made in IRS Phone Scam

  Newspapers report on call center workers posing as IRS tax collectors to rake in tens of millions of dollars.. Thousands of US citizens may have been targeted in a huge tax scam run from call centers in Mumbai where hundreds of workers were allegedly trained to speak in American accents in order to steal… Continue Reading

IRS Begins Mandatory ITIN Renewals

The IRS will begin implementing changes  in the Individual Taxpayer Identification Number (ITIN) program which will require many ITIN holders to renew their numbers.  The change comes as a result of The Protecting Americans from Tax Hikes Act (PATH) passed by Congress last December. All ITINs not used on a federal tax return at least once in the last… Continue Reading

How long do I wait for my FIRPTA Withholding?

I am a foreign owner selling my U.S. property. I understand that 15% of my sales price will be held back from me at closing but how long will it take for me to get back that money? Option 1 – if you do not take any action then the 15% will be submitted to… Continue Reading

Property / Real Estate Tax

Payable annually to the Tax Collector’s Office (in the County where the property is located).  Tax bills are mailed out on or before November 1st each year.  Payment is due by March 31st with discounts available for early payment. Property or Real Estate Tax is an ad valorem tax assessed on the value of the … Continue Reading

Information about the 1042-S Form

Form 1042-S – Foreign Person’s U.S. Source Income Subject to Withholding This form is used to report the amount of income received on your behalf by your booking agent or management company. The form is prepared by the management company or withholding agent, submitted to the IRS and copied to the rental property homeowner. You… Continue Reading

What is a 1099 Form?

Form 1099 is issued by U.S. corporations, small businesses and other employers to record the income earned by employees and independent contractors. There are several versions of the 1099 which may be used to report different types of income such as interest, dividends, real estate sale proceeds and debt cancellation.  The form reports income to… Continue Reading

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