Form 8288-B - Application For Withholding Certificate For Dispositions By Foreign Persons Of U.s. Real Property Interests Page 3

Download a blank fillable Form 8288-B - Application For Withholding Certificate For Dispositions By Foreign Persons Of U.s. Real Property Interests in PDF format just by clicking the "DOWNLOAD PDF" button.

Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.

Complete Form 8288-B - Application For Withholding Certificate For Dispositions By Foreign Persons Of U.s. Real Property Interests with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.

Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.

Form 8288-B (Rev. 11-2006)

Page

Line 6d. Check “Other” if the property was

attributable to each item. The fair market

Form 2848, Power of Attorney and Declaration

used for both personal and rental use and

value claimed should be supported by an

of Representative, can be used for this

attach an explanation.

independent appraisal or other similar

purpose.

documentation.

Line 6f. Enter the address and description

of the property (for example, “10-story,

Privacy Act and Paperwork Reduction Act

Line 7c. If you checked 7c, see Installment

100-unit luxury apartment building”). For a

Notice. We ask for the information on this

sales on page 2.

real estate holding corporation interest

form to carry out the Internal Revenue laws

Line 8. You must provide a calculation of

transferred, enter the class or type and

of the United States. Section 1445 generally

the transferor’s unsatisfied withholding

amount of the interest (for example, “10,000

imposes a withholding obligation on the

liability or evidence that it does not exist.

shares Class A Preferred Stock XYZ

buyer or other transferee (withholding agent)

This liability is the amount of any tax the

Corporation”). You may attach additional

when a U.S. real property interest is

transferor was required to, but did not,

sheets. Be sure to include your name and

acquired from a foreign person. Section

withhold and pay over under section 1445

TIN on each sheet you attach.

1445 also imposes a withholding obligation

when the U.S. real property interest now

on certain foreign and domestic

Line 6g. A U.S. income tax return includes

being transferred was acquired, or upon a

corporations, qualified investment entities,

Forms 1040NR, and 1120-F.

prior acquisition. The transferor’s

and the fiduciary of certain trusts and

unsatisfied withholding liability is included in

Line 7a. If you checked 7a, attach:

estates. This form is used to apply for a

the calculation of maximum tax liability so

1. A brief description of the transfer,

withholding certificate to reduce or eliminate

that it can be satisfied by the withholding on

withholding on dispositions of U.S. real

2. A summary of the law,

the current transfer.

property interests by foreign persons if

3. Facts supporting the claim of

Evidence that there is no unsatisfied

certain conditions apply.

nonrecognition or exemption,

withholding liability includes any of the

You are required to provide this

following:

4. Evidence that the transferor has no

information. Section 6109 requires you to

unsatisfied withholding liability, and

provide your taxpayer identification number.

1. Evidence that the transferor acquired

We need this information to ensure that you

the subject or prior real property interest

5. The most recent assessed value for

are complying with the Internal Revenue

before 1985;

state or local property tax purposes of the

laws and to allow us to figure and collect

interest to be transferred, or other estimate

2. A copy of Form 8288 filed and proof of

the right amount of tax. Failure to provide

of its fair market value. You need not submit

payment;

this information in a timely manner, or

supporting evidence of the value of the

3. A copy of a withholding certificate

providing false information, may subject you

property.

issued by the IRS plus a copy of Form 8288

to penalties. Routine uses of this

A nonresident alien or foreign corporation

and proof of payment of any amount

information include giving it to the

must also attach a statement of the adjusted

required by that certificate;

Department of Justice for civil and criminal

basis of the property immediately before the

litigation, and to cities, states, and the

4. A copy of the nonforeign certificate

distribution or transfer.

District of Columbia for use in the

furnished by the person from whom the

Line 7b. If you checked 7b, attach a

administration of their tax laws. We may

U.S. real property interest was acquired (the

calculation of the maximum tax that can be

also disclose this information to other

certificate must be executed at the time of

imposed on the disposition. You must also

countries under a tax treaty, to federal and

acquisition);

include a statement signed by the transferor

state agencies to enforce federal nontax

5. Evidence that the transferor purchased

under penalties of perjury that the

criminal laws, or to federal law enforcement

the subject or prior real property interest for

calculation and all supporting evidence is

and intelligence agencies to combat

true and correct to the best knowledge of

$300,000 or less and a statement, signed

terrorism.

by the transferor under penalties of perjury,

the transferor.

You are not required to provide the

that the transferor purchased the property

The calculation of the maximum tax that

information requested on a form that is

for use as a residence within the meaning of

can be imposed must include:

subject to the Paperwork Reduction Act

Regulations section 1.1445-2(d)(1);

1. Evidence of the amount to be realized

unless the form displays a valid OMB

by the transferor, such as a copy of the

6. Evidence that the person from whom the

control number. Books or records relating

signed contract of transfer;

transferor acquired the subject or prior U.S. real

to a form or its instructions must be

property interest fully paid any tax imposed on

retained as long as their contents may

2. Evidence of the adjusted basis of the

that transaction under section 897;

become material in the administration of

property, such as closing statements, invoices

any Internal Revenue law. Generally, tax

for improvements, and depreciation

7. A copy of a notice of nonrecognition

returns and return information are

schedules, or if no depreciation schedules are

treatment provided to the transferor under

confidential, as required by section 6103.

submitted, a statement of the nature of the use

Regulations section 1.1445-2(d)(2) by the

The time needed to complete and file this

of the property and why depreciation was not

person from whom the transferor acquired

form will vary depending on individual

allowed;

the subject or prior U.S. real property

circumstances. The estimated average time is:

interest; or

3. Amounts to be recaptured for

Recordkeeping

2 hr., 4 min.

depreciation, investment credit, or other

8. A statement, signed by the transferor

items subject to recapture;

under penalties of perjury, explaining why

Learning about the

the transferor was not required to withhold

law or the form

2 hr., 7 min.

4. The maximum capital gain and/or ordinary

under section 1445(a) with regard to the

income tax rates applicable to the transfer;

Preparing the form

1 hr., 7 min.

transferor’s acquisition of the subject or

5. The tentative tax owed; and

prior real property interest.

Copying, assembling,

and sending the form

6. Evidence showing the amount of any

Line 9a. If the transaction is subject to

to the IRS

20 min.

increase or reduction of tax to which the

withholding under section 1445(e), check

transferor is subject, including any

the box to indicate which provision of

If you have comments concerning the

reduction to which the transferor is entitled

accuracy of these time estimates or

section 1445(e) applies.

under a U.S. income tax treaty.

suggestions for making this form simpler,

Line 9b. Indicate whether the applicant is

we would be happy to hear from you. You

If you have a net operating loss, see Rev.

the taxpayer or the person required to

can write to the Internal Revenue Service,

Proc. 2000-35, section 4.06, for special

withhold, and in what capacity that person

Tax Products Coordinating Committee,

rules about the maximum tax calculation.

is required to withhold.

SE:W:CAR:MP:T:T:SP, 1111 Constitution

If the purchase price includes personal

Signature. The application must be signed by

Ave. NW, IR-6406, Washington, DC 20224.

property not subject to tax under section

an individual, a responsible corporate officer, a

Do not send this form to this office. Instead,

897, for the calculation of maximum tax, the

general partner of a partnership, or a trustee,

see Where to send applications for a

transferor must also include a statement

executor, or other fiduciary of a trust or estate.

withholding certificate on page 2.

listing each such item of personal property

The application may also be signed by an

transferred and the fair market value

authorized agent with a power of attorney.

0 votes

Top 20 Happy Easter Cards And Gift Tags To Download For Free

Top Ten Easter Arts And Crafts Activities For Your Kids

Free Easter Coloring Pages And Easter Printables For Your Kids

Related forms

Form 8288-b - Application For Withholding Certificate For Dispositions By Foreign Persons Of U.s. Real Property Interests Business

Form 8288-b - Application For Withholding Certificate For Dispositions By Foreign Persons Of U.s. Real Property Interests Financial

Form 8288-b (rev. August 1998) - Application For Withholding Certificate For Dispositions By Foreign Persons Of U.s. Real Property Interests Financial

Form 8288 - U.s. Withholding Tax Return For Dispositions By Foreign Persons Of U.s. Real Property Interests Financial

Related Categories

Parent category: Financial

Form 8288-B - Application For Withholding Certificate For Dispositions By Foreign Persons Of U.s. Real Property Interests Page 3

Related Articles

Related forms

Related Categories