Knowledebase Tag: IRS
- My client bought his home a few years ago. Now he wants to sell it and take advantage of the tax exclusion of up to $250,000 on the proceeds. What criteria does he have to meet to qualify for the tax exclusion?
- The Foreign Investment in Real Property Tax Act requires buyers in certain transactions involving foreign sellers to withhold funds for federal taxes. Does either agent have liability in such a transaction where the seller falsely certifies that he is not a foreign seller?
- Who does the IRS consider to be a “foreign person”?
- Some programs offer to make real estate agents part-time employees of the lender. How does this work and is it legal?
- How can I help make clear to the IRS that my agents are independent contractors, not employees?
