A more conservative approach by the Internal Revenue Service in issuing tax identification numbers to foreign investors threatens to slow U.S. real estate deals, tax attorneys and financial service professionals say.
Fraudulent tax returns involving identification numbers issued to foreign applicants plus a sevenfold spike in identity theft led the IRS to implement a more stringent process for issuing employer identification numbers and individual tax identification numbers.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]