Bryan and Ingrid bought a house from two Russians in Miami and ended up facing a big problem with the IRS. The Russians were supposed to pay a fee to the IRS when selling their property, but their attorney failed to do so on time. As a result, Bryan and Ingrid received a fine of $30,000 from the IRS, even though they were not responsible for the late payment.
Bryan tried to explain to the IRS that it was the attorney’s fault, but the IRS insisted that Bryan was the only one they could collect the fine from. After seeking help from Howard Finkelstein, a legal expert, Bryan realized that legally, the IRS could go after him, but it was not the right thing to do.
Howard Finkelstein reached out to the attorney responsible for the late payment, but he did not respond. However, he eventually contacted Bryan and arranged to pay the tax bill, relieving Bryan of the $30,000 fine. Bryan expressed his gratitude to Help Me Howard for their assistance in resolving the issue.
This incident serves as a reminder for buyers and sellers in South Florida, especially when dealing with transactions involving foreign nationals, to ensure that all necessary fees are paid to the IRS to avoid facing similar challenges. It’s essential to be aware of the tax implications when purchasing property from individuals from another country to prevent unexpected fines and penalties.
If you encounter a problem like Bryan’s, don’t hesitate to seek help and explore your options to resolve the issue effectively. Remember, it’s crucial to address foreign transactions with caution and ensure compliance with tax regulations to avoid potential complications in the future.
