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Form 8288-B UT: What You Should Know
A note with a comment — Form 8288-B Application for Withholding Certificate (Rev. February 2016) (No Fee) Aug 30, 2024 — To minimize IRS burden on you, it's best to get a form that's already filed with the IRS. That way the government is already paying your taxes, and you don't have to pay to the IRS again to have the form filed correctly. Form 8288-B (Rev. February 2016) (No Fee). This Form is used by IRS to reduce or eliminate withholding on dispositions by foreign persons of U.S. real property interests. Form 8288-B (Rev. February 2016) (No Fee) is used by IRS to reduce or eliminate withholding on dispositions by foreign persons of U.S. real property interests. Form 8288-B is useful when selling real property in order to avoid U.S. taxation as well as to minimize IRS tax obligations on foreign earned income, the sale of real property, such land, building, or buildings, the sale of personal property, the sale of a farm or ranch, or the distribution or exchange of stock, or any other property, the fair market value of which does not exceed the greatest of 3,500 or the amount of foreign earned income subject to withholding tax. Form 8288-B is useful in the following situations: if the property was built or acquired before the individual became a U.S. resident or permanent resident; if the property is used for residence or work purposes, including housing or rental housing, in the ordinary course. If this form is needed to reduce or eliminate the withholding tax payable by a transferee by U.S. source property, the property may be sold, transferred, or otherwise disposed of on a tax-free basis. The sale or exchange will be reported to you on Form 1441. Include all payments, transfers, and dispositions on Form 6166 (or any successor form). Form 8288-B is useful in the following situations: if the property was built or acquired before the individual became a U.S. resident or permanent resident; if the property is used for residence or work purposes, including housing or rental housing, in the ordinary course. If this form is needed to reduce or eliminate the withholding tax payable by a person purchasing property from you on a tax-free basis, the purchaser may be required to complete section 1228.
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