Hello All,
I am in the process of selling a plot of land and in the settlement
statement under section 1300 Additional Settlement Charges: there is a
10% tax holdback to Inland Revenue Service.
According to the selling agent, this charge is levied against non-US
citizens who sell property in the US.
Can I set this payment against my overall tax liability when I submit
my tax returns..
"hharry" <> wrote in message
news:
> I am in the process of selling a plot of land and in the settlement
> statement under section 1300 Additional Settlement Charges: there is a
> 10% tax holdback to Inland Revenue Service.
What is the "Inland Revenue Service"?
> According to the selling agent, this charge is levied against non-US
> citizens who sell property in the US.
You must mean the "Internal Revenue Service, Dep't. of Treasury, US", but
you'd better read the document carefully. Many people will use such
deceptive wordings to dupe unknowing aliens(?) out of their cash.
> Can I set this payment against my overall tax liability when I submit
> my tax returns..
If it is indeed the Internal Revenue Service that is named, then that would
be the whole purpose of the withholding.