Lansing Michigan Non-Foreign Affidavit Under IRC 1445

• Category: Michigan Real Estate - Closings
• State: Michigan
• City: Lansing
• Control #: MI-CLOSE7
• Format: Word; Rich Text

Description

This Non-Foreign Affdavit Under Internal Revenue Code 1445 is for a seller of real property to sign stating that he or she is not a foreign person as defined by the Internal Revenue Code Section 26 USC 1445. This document must be signed and notarized. A Lansing Michigan Non-Foreign Affidavit Under IRC 1445 is a legal document that confirms an individual's non-foreign status regarding the sale or transfer of real property in the United States. This affidavit is required under the Internal Revenue Code (IRC) section 1445, which mandates withholding tax on the disposition of a U.S. real property interest in a foreign person. The Lansing Michigan Non-Foreign Affidavit Under IRC 1445 is specifically applicable to individuals involved in real estate transactions in Lansing, Michigan. It serves as an assurance to the Internal Revenue Service (IRS) that the seller or transferee is not a foreign person, thus exempting them from the withholding tax requirement. Keywords: Lansing Michigan, Non-Foreign Affidavit, IRC 1445, real property, United States, legal document, sale, transfer, non-foreign status, Internal Revenue Code, withholding tax, real estate transactions, Internal Revenue Service, seller, transferee. In Lansing, Michigan, there may be different types of Non-Foreign Affidavits under IRC 1445, depending on the specific transaction or circumstances. Some possible variations could include: 1. Individual Non-Foreign Affidavit: This type of affidavit is completed by an individual who is selling or transferring real property in Lansing, Michigan, to declare their non-foreign status. The affidavit affirms their U.S. residency or non-foreign status per IRC 1445 requirements. 2. Trust or Estate Non-Foreign Affidavit: In cases where a trust or estate entity is involved in a real estate transaction in Lansing, Michigan, this affidavit is completed by the trustee or executor representing the trust or estate. It ensures compliance with IRC 1445 regulations by confirming the non-foreign status of the trust or estate. 3. Partnership or Corporation Non-Foreign Affidavit: When a partnership or corporation participates in a real property sale or transfer in Lansing, Michigan, the designated representative completes this affidavit. It verifies the non-foreign status of the partnership or corporation, as required by IRC 1445. 4. Foreign Person Affidavit: Although not directly related to the "Non-Foreign Affidavit under IRC 1445," it is worth mentioning that a foreign person involved in a Lansing, Michigan, real estate transaction may be required to complete a specific affidavit for tax purposes. This affidavit aims to determine the correct amount of withholding tax to be imposed on the transaction. Please note that the availability and specific requirements of these affidavits may vary depending on local regulations and the individual circumstances of the real estate transaction in Lansing, Michigan. It is advisable to consult legal professionals or tax experts to ensure compliance with all applicable laws and regulations.

A Lansing Michigan Non-Foreign Affidavit Under IRC 1445 is a legal document that confirms an individual's non-foreign status regarding the sale or transfer of real property in the United States. This affidavit is required under the Internal Revenue Code (IRC) section 1445, which mandates withholding tax on the disposition of a U.S. real property interest in a foreign person. The Lansing Michigan Non-Foreign Affidavit Under IRC 1445 is specifically applicable to individuals involved in real estate transactions in Lansing, Michigan. It serves as an assurance to the Internal Revenue Service (IRS) that the seller or transferee is not a foreign person, thus exempting them from the withholding tax requirement. Keywords: Lansing Michigan, Non-Foreign Affidavit, IRC 1445, real property, United States, legal document, sale, transfer, non-foreign status, Internal Revenue Code, withholding tax, real estate transactions, Internal Revenue Service, seller, transferee. In Lansing, Michigan, there may be different types of Non-Foreign Affidavits under IRC 1445, depending on the specific transaction or circumstances. Some possible variations could include: 1. Individual Non-Foreign Affidavit: This type of affidavit is completed by an individual who is selling or transferring real property in Lansing, Michigan, to declare their non-foreign status. The affidavit affirms their U.S. residency or non-foreign status per IRC 1445 requirements. 2. Trust or Estate Non-Foreign Affidavit: In cases where a trust or estate entity is involved in a real estate transaction in Lansing, Michigan, this affidavit is completed by the trustee or executor representing the trust or estate. It ensures compliance with IRC 1445 regulations by confirming the non-foreign status of the trust or estate. 3. Partnership or Corporation Non-Foreign Affidavit: When a partnership or corporation participates in a real property sale or transfer in Lansing, Michigan, the designated representative completes this affidavit. It verifies the non-foreign status of the partnership or corporation, as required by IRC 1445. 4. Foreign Person Affidavit: Although not directly related to the "Non-Foreign Affidavit under IRC 1445," it is worth mentioning that a foreign person involved in a Lansing, Michigan, real estate transaction may be required to complete a specific affidavit for tax purposes. This affidavit aims to determine the correct amount of withholding tax to be imposed on the transaction. Please note that the availability and specific requirements of these affidavits may vary depending on local regulations and the individual circumstances of the real estate transaction in Lansing, Michigan. It is advisable to consult legal professionals or tax experts to ensure compliance with all applicable laws and regulations.

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