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Careful Escrow Officers, your foreign seller’s ITIN may no longer be valid, and that could mean trouble for you.

Starting in 2016, US individual taxpayer ID numbers ("ITINs”) not used in the prior 5 years on a US tax return will be deactivated by the IRS.  So, staring in 2016, if a foreign person hasn’t sold US real estate since (at the latest) 2010 (which should have led to them doing a tax return [...]

By |December 7th, 2015|Directs|Comments Off on Careful Escrow Officers, your foreign seller’s ITIN may no longer be valid, and that could mean trouble for you.

Important IRS Changes to the 2015/2016 ITIN Application Process

As you know, procuring ITIN's for non-US citizen/residents is essential when these individuals sell (or rent) US/California real estate.  Starting in 2015, the IRS has made an already challenging process even more cumbersome.  In 2016, the IRS plans to add yet another layer of complexity. 2015 Change- Form 8288's Now Really Must be Included in ITIN Applications [...]

By |February 25th, 2015|Directs|Comments Off on Important IRS Changes to the 2015/2016 ITIN Application Process