The Foreign Investment in Real Property Tax Act (FIRPTA) taxes foreigners’ gains on the income they earn from, and then the sale of, U.S. real estate and other real property. By treating real estate differently than other U.S. investments foreigners can make (e.g., stocks and bonds), the law discourages such investments. Congress should reform FIRPTA to promote foreign investment in the U.S. multifamily industry and help the multifamily industry meet the growing demand for rental housing. Read our Fact Sheet to learn more.
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