If you are not able to get a waiver of HARPTA, you can still apply for an early, tentative refund.  HARPTA is a withholding - an amount held by the State Department of Taxation in anticipation of possible future taxes.

 

However, in nearly every case, your withholding is substantially larger than the home seller's actual tax liability - that's you and your money.  

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For example, let's imagine you are a single, Hawaii nonresident who sells a rental home for $800,000 that has a gain of $100,000.  In this transaction, $58,000 will be withheld for HARPTA, even though your actual tax liability is only $6,864.  You, the home seller, would be due a refund of over $51,000!  

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Get Your HARPTA Refund & Get It Faster

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While you could wait until the following tax year to claim your refund, that could be a very long time - perhaps a year or longer!  If you apply for an early tentative refund, you typically receive your refund in about 2 months.  That's a big difference.

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Even very experienced and educated tax preparers often do not have sufficient knowledge nor experience with Hawaii state tax filings and real estate tax rules necessary to maximize the refund. 

 

Why We're the Right Choice Your HARPTA Tax Problems

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As a former auditor and Controller of the Honolulu Board of REALTORS, as well as a tax instructor for the Hawaii Association of REALTORS for over 14 years, Brad is more than qualified to get you the largest refund possible. 

 

Contact us now to learn how we can help you get your refund back as quickly as possible!

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