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Real Estate taxation: In the Age of Mortgage Foreclosures

Is there a real estate exception to FATCA


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On March 18, 2010, the Hiring Incentives to Restore Employment (HIRE) Act was signed into law, which contained provisions aimed at decreasing U.S. tax evasion and are commonly referred to as the Foreign Account Tax Compliance Act (FATCA). Jeffrey Rubin, Partner, and Denise Hintzke, Director, from Deloitte Tax LLP, were recently featured in a Real Estate Taxation article. The article entitled, “Is there a real estate exception to FATCA?”, provides an overview of the Foreign Account Tax Compliance Act (FATCA) and addresses many of the questions that might impact the real estate industry.

Key features the article addresses include:

  • An overview of FATCA and its implications on the real estate industry
  • Insights on effectively connected income (ECI) exempted from FATCA
  • A look into income from real estate and the ownership of ECI as it applies to:
    • Directly held real estate
    • Use of corporate entities to own U.S. real estate
    • Loans by nonresidents
    • Ownership of U.S. REIT

Denise and Jeffrey clearly point out in the article, whether FATCA will apply will most likely depend on the choice of investment structure and whether effectively connected income treat applies.

To read the featured article and learn more about the impact of FATCA on the Real Estate Industry, please click here. Also be sure to check out Deloitte’s FATCA Resource Library for additional information.

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