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Fullerton California online Form 8288-B: What You Should Know
Description: For tax years beginning in calendar year 2024, taxpayers must file an application to receive an IRS withholding certificate under IRS. Withholding certificates may reduce or eliminate withholding on dispositions by foreign sellers of U.S. real property interests. You can file Form 8388-B with this application if the following apply to you: Your nonresident foreign-source income for the taxable year was 400,000 or more. You were a nonresident alien on the tax year in which the disposition occurred. Furthermore, you disposed of U.S. real property interests on or after January 1, 2023 (if filing a paper application for a Certificate of Withholding or a Form 8288-B, respectively). If you are not required by the Notice regarding the withholding tax due on transfers to a U.S. address, you can file Form 8388-B (and an online tax return without the Internet or a paper return) by May 5, 2022, to request a refund of the excess tax due, if you meet the requirements for a Certificate of Withholding or a Form 8288-B. You can pay the excess withholding tax to the IRS on the return (Form 8388-B) or on a tax return electronically (Form 8288-B). NOTE: Withholding amounts paid to the IRS are subject to a 5% federal tax. However, U.S. residents with incomes in excess of 150,000 who qualify may be exempt from withholding, depending on their personal tax liability. If you would like more information, please call. U.S. citizens may contact their U.S. embassy if they want more information about this withholding tax for their household. The IRS is also accepting requests for a waiver of the 8288(B) on a case-by-case basis. To request an online waiver, please contact the IRS toll-free at. Form 8288-B. (Rev. February 2016) — IRS Form 8288-B (rev. February 2016). Application for Withholding Certificate for Dispositions by Foreign Persons of U.S. Real Property Interests. Ir's 8288 form: Fill out & sign online — Chub Submit Form 8198 (with supporting form 8288-B and proof of foreign residence, if required) and Form 8749, Application to Withdraw or Refund Withheld Income Tax, to the U.S.
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