The Essential Tax Podcast with Mishkin Santa, Season 2, Episode 15
In this episode of The Essential Tax Podcast, Mishkin Santa speaks with David Roche, JD. David is a practicing Attorney with KVS Title, LLC. He has been employed with KVS for 14 years and has been working in the business for 23+ years. He is extremely knowledgeable regarding FIRPTA requirements and processes.
Tune in for these key takeaways:
- A brief history of FIRPTA, who it applies to, and how it’s evolved since its inception in the 1980s.
- Some common myths and misnomers about the FIRPTA process and how to avoid pitfalls to make your FIRPTA transaction the most efficient possible.
- A summary of the options that real property buyers and sellers have regarding FIRPTA withholding and filing.
- A timeline for handling FIRPTA obligations with the IRS and insight into the IRS’s process for handling FIRPTA claims.
- A discussion of several common scenarios and challenges that a real estate buyer or seller might experience, and suggestions for the best ways to approach these scenarios.
- Clarification between a Social Security Number (SSN) and an Individual Taxpayer Identification Number (ITIN).
- When and why it may be necessary to employ both an attorney and a CPA to assist with FIRPTA transactions.
Learn more about David Roche:
- Visit the Our People page on KVS Title’s website: https://www.kvstitle.com/our-people
- Visit the KVS Title website: https://www.kvstitle.com/
- Follow KVS Title on Facebook: https://www.facebook.com/KVSTitle/
Further Resources:
- Visit The Wolf Group’s FIRPTA Tax Help Page: https://thewolfgroup.com/services/firpta-tax-help/
- Visit Congress.gov’s FIRPTA Page: https://www.congress.gov/crs-product/IF12498
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About The Essential Tax Podcast:
In each episode of The Essential Tax Podcast, Mishkin Santa takes on the complex world of tax — all the jargon, acronyms, and stuff that makes your eyes glaze over, and explains it in an impactful way to understand the complex and unknown areas.
Watch or listen to more episodes of The Essential Tax Podcast:
- YouTube: https://www.youtube.com/@TheWolfGroupPC
- Apple: https://podcasts.apple.com/us/podcast/the-essential-tax-podcast/id1754660944
- Spotify: https://open.spotify.com/show/2beZfOpwfBlBgWHlNelAOf
Connect and learn more from your host, Mishkin Santa:
- Connect with Mishkin on LinkedIn: https://www.linkedin.com/in/msanta
- Follow The Wolf Group on LinkedIn: https://www.linkedin.com/company/the-wolf-group-pc
- Read Mishkin’s bio on The Wolf Group’s website: https://thewolfgroup.com/our-people/mishkin-santa
