A bill to institute withholding tax on dispositions of United States real property interests by non-United States persons and to repeal present reporting requirements in such transactions.
FIRPTA Withholding Tax Act of 1984 - Amends the Internal Revenue Code to require the withholding of tax on dispositions of U.S. real property interests by a foreign individual. Sets the rate of such withholding at the lesser of: (1) ten percent of the amount realized on the disposition; or (2) the transferor's maximum tax liability. Allows specified exemptions from such withholding requirement.
Revises requirements relating to returns and reporting with respect to U.S. real property interests.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
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