Amended Sale Overview • The Amended Sale program was developed by the Employee Relocation Council (ERC) and is recognized under IRS ruling 72-339 • There are 11 steps which must be adhered to in order to minimize tax exposure. If not followed the customer and corporate client are subject to additional taxes • There must be two distinct and separate sale transactions • Customer sells home to Relocation Management Company • Relocation Management Company sells the home to the third- party buyer • The customer’s name, signature, or initials CANNOT appear anywhere on the contract, binder, counter-offer, repair request, or any addendum • If you don’t know, ask! • If the customer signs in error, they violate the IRS Ruling. This jeopardizes the eligibility of the sale for the program and VOIDS the tax protection.
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