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  • Form 8288

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O No Under penalties of perjury, I declare that I have examined this application and accompanying attachments, and, to the best of my knowledge and belief, they are true, correct, and complete. Signature For Privacy Act and Paperwork Reduction Act Notice, see the instructions. Title (if applicable) Cat. No. 10128Z Date Form 8288-B (Rev. 8-2013) Form 8288-B (Rev. 8-2013) Section references are to the Internal Revenue Code unless otherwise noted. Future Developments For the latest informa.

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How to fill out the Form 8288 online

Form 8288 is essential for foreign persons applying for a withholding certificate for dispositions of U.S. real property interests. This guide will lead you through filling out the form online, ensuring you provide the necessary information accurately and efficiently.

Follow the steps to complete Form 8288 online.

  1. Press the ‘Get Form’ button to access the form and open it for editing.
  2. Begin with Line 1, entering the name, street address, and identification number of the transferor. If there are multiple transferors, ensure to attach additional sheets with the required information for each.
  3. Proceed to Line 2, providing the name, street address, and identification number of the transferee. Similar to Line 1, include additional sheets if necessary.
  4. In Line 4a, indicate the name of the withholding agent, typically the buyer or transferee.
  5. For Line 4b, enter your social security number or ITIN if you are not applying in a personal capacity.
  6. Line 5 should include the address where you want the IRS to send the withholding certificate.
  7. Fill out Line 6, detailing the description of the U.S. real property transaction including contract price, date of transfer, and type of interest transferred.
  8. In Line 6g, specify whether U.S. income tax returns related to the U.S. real property interest were filed in the past three years.
  9. Complete Lines 7 and 8 to indicate the reason for requesting the withholding certificate and if there are any unsatisfied withholding liabilities.
  10. If applicable, continue to Line 9 to indicate if the application for a withholding certificate is being made under section 1445(e).
  11. Finally, sign the form, ensuring all fields are accurately filled before saving your changes, downloading, printing, or sharing the completed form.

Complete your Form 8288 online now to ensure a smooth application process.

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Form 8288 is the transmittal for Form 8288-A. The buyer of a U.S. real property interest that is required to withhold FIRPTA tax must file both Form 8288 and Form 8288-A with the IRS within 20 days of the transfer of the property to report and remit the amount withheld.

FIRPTA Exemptions The sales price is $300,000 or less, and. The buyer signs affidavit at or before closing stating they intend to use property for personal purposes for at least 50% of time property occupied for the each of the first two 12 month periods immediately after closing.

A: The buyer must agree to sign an affidavit stating that the purchase price is under $300,000 and the buyer intends to occupy. The buyer may choose not to sign the form, in which case withholding must be done.

FIRPTA is a tax law that imposes U.S. income tax on foreign persons selling U.S. real estate. Under FIRPTA, if you buy U.S. real estate from a foreign person, you may be required to withhold 10% of the amount realized from the sale. ... Along with the form, you submit 10% withholding.

Form 8288. The tax withheld on the acquisition of a U.S. real property interest from a foreign person is reported and paid using Form 8288. ... If the principal purpose of applying for a withholding certificate is to delay paying over the withheld tax to the IRS, the transferee will be subject to interest and penalties.

For U.S. property dispositions subject to FIRPTA, the transferee (purchaser) is required to withhold and remit to the IRS 15% of the gross sales price to ensure that any taxable gain realized by the seller is actually paid.

Form 8288. The tax withheld on the acquisition of a U.S. real property interest from a foreign person is reported and paid using Form 8288. ... If the principal purpose of applying for a withholding certificate is to delay paying over the withheld tax to the IRS, the transferee will be subject to interest and penalties.

To avoid unnecessary withholding, the IRS can determine seller's maximum tax liability in advance. Obtaining a withholding certificate may reduce or eliminate the amount of withholding required. Either the seller or buyer may apply for a withholding certificate issued by the IRS. 26 CFR 1.1445-3(a).

The address of the property being transferred (or sold) The seller or transferor's information: Full name. Telephone number. Address. Social Security Number, Federal Employer Identification Number, or California Corporation Number.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate WorkFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232