FIRPTA Update Could Jump-Start Struggling US Markets

Law360, New York (September 4, 2013, 5:52 PM EDT) -- Congressional support is growing for changes to tax laws governing foreign investment in U.S. real estate that experts say could free up more capital for injection into sluggish secondary markets such as Dallas, Detroit and some parts of Chicago.

Earlier this year, President Barack Obama recommended changes to the Foreign Investment in Real Property Tax Act of 1980, which imposes income tax on foreign persons and entities selling U.S. real estate interests. The changes would relieve some of the tax burden by eliminating withholding requirements for foreign...
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