How long for Firpta process?

[Sweetybabe]

Hi, I'm after some advice please. We sold our DVC contract in September last year, closing in November. We used a recognised Firpta agent to deal with the 15% IRS allocation upon completion. We still haven't heard anything though? It's 6 months now. I've emailed the Firpta specialist we used to chase it up but not getting a reply. Not sure what to do next?

[TinkTatoo]

Did you sell via a broker? if you did perhaps contact them for some advice, especially as you're not getting a reply from the tax specialist.

[MissPiggy2012]

We are in the same position. We sold in April last year and still haven’t received our tax back. I had a message recently to say the person within the IRS who deals with this only works on Saturdays and there are 4 cases outstanding from last April that our FIRPTA specialist is waiting for. I’m beginning to wonder if we will ever see our money but there doesn’t appear to be anything I can do.

[mousefan]

We have sold 4 of our contracts over the last two years. In each case it took around nine months to get the FIRPTA back. I had presumed this delay was due to Covid.

[Stitchesmumanddad]

I closed in Jan 2021- FIPTA agent has had to put in a tax return as we made about $30 “profit” so couldnt just get it back

USA tax system is bonkers and when I researched it as may have lived out there ….. nooooooo gimme UK tax laws anytime !

[Love*my*hols]

We waited 7 months for one contract and 10 months for another ,both had been sold within a month of each other .

[Sweetybabe]

Thanks all. I finally received a reply from the spe insist dealing with it, apparently the IRS are currently dealing with July's applications so it will likely still be some months yet. I can guarantee they wouldn't take so long to contact us if we owedthem money.

[Sweetybabe]

Just updating on this post, still not received our refund, it's coming up 12 months now, isthis normal?

[MissPiggy2012]

Originally Posted by Sweetybabe

Just updating on this post, still not received our refund, it's coming up 12 months now, isthis normal?

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Ours took over 12 months, I was struggling to get a reply from our FIRPTA specialist too so I ended up emailing our resale agent as well. In the end I said I wanted to go through an official complaints procedure and our money arrived a few days later.

[Sweetybabe]

Originally Posted by MissPiggy2012

Ours took over 12 months, I was struggling to get a reply from our FIRPTA specialist too so I ended up emailing our resale agent as well. In the end I said I wanted to go through an official complaints procedure and our money arrived a few days later.

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I wish I'd went through the specialist the agent recommended now but I went through someone different based on recommendations on fb. I'm presuming you complained through the resale agent?