Summary of FIRPTA and REIT Tax Reform Provisions Contained In the Path Act of 2015
On December 18, 2015, President Obama signed into law the Consolidated Appropriations Act, 2016. Division Q of such law, Protecting Americans From Tax Hikes Act of 2015 (“PATH”) includes significant reforms to the Foreign Investment in Real Property Tax Act of 1980 (“FIRPTA”) and the taxation of real estate investment trusts (“REITs”).