History
Prior to 1981, foreign persons (nonresident, non citizen individuals and non-U.S. corporations) often were exempt from U.S. tax on sale of real estate in the United States. Congress passed FIRPTA to require all foreign persons to pay tax on dispositions of any interests in U.S. real estate. The law specifically provided that its provisions took precedence over any existing tax treaties that provided otherwise.
Read more about this topic: Foreign Investment In Real Property Tax Act
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“History has neither the venerableness of antiquity, nor the freshness of the modern. It does as if it would go to the beginning of things, which natural history might with reason assume to do; but consider the Universal History, and then tell us,—when did burdock and plantain sprout first?”
—Henry David Thoreau (1817–1862)
“Tell me of the height of the mountains of the moon, or of the diameter of space, and I may believe you, but of the secret history of the Almighty, and I shall pronounce thee mad.”
—Henry David Thoreau (1817–1862)