Real Estate Law
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Hi and welcome to JA. Ray here to help you today.Please bear with me a few moments while I review your question, conduct and prepare your response.
You will need a CPA in Key West here to prepare this and any return or other information needed.
Here is a list of folks that can do that for you.
Ward & Meyers LLC
No reviews · Tax Preparation Service
Pribramsky & Company, CPA's
5.0 (2) · Certified Public Accountant
Open until 5:00 PM
No reviews · Accountant
Open until 7:00 PM
Jeffrey E. Allen CPA
3718 N Roosevelt Blvd
Henry B. Allen, CPA
5.0 (1) · Tax Preparation Service
Oropeza & Parks
5.0 (1) · Certified Public Accountant
Searstown Shopping Center
Searstown Shopping Center, 815 Peacock Plaza
Oropeza & Parks: Parks John G CPA
815 Peacock Plaza
Form if you want to try yourself
A Form 8288, U.S. Withholding Return for Disposition by Foreign Persons of U.S. Real Property Interests, is required to be filed by the transferee (buyer or designated agent) of the U.S. real property interest. In addition, Form 8288-A, U.S. Withholding Statement on Disposition by Foreign Persons of U.S. Real Property Interest, must be attached to Form 8288 and submitted with the required withholding. The amount of tax required to be withheld and paid to the IRS by the transferee is 10% or new 15% rates of the amount realized on the disposition of the USRPI by the foreign transferor. Forms 8288, 8288-A and the withholding tax must be filed (mailed) to the IRS by the 20th day after the date of transfer unless the seller is waiting for a response from the IRS to an application for a withholding certificate (see next paragraph) filed before closing. In such case, upon receipt of an approved withholding certificate or rejection letter, the taxpayer has 20 days from the date on the certificate/letter to file Forms 8288 and 8288-A and remit the required amount. Penalties and interest will be charged on late filed Forms 8288 (filed after the 20th day from the date of transfer or the response from the IRS to the withholding certificate). There is a penalty of up to $10,000 over the tax for a willful failure to collect and pay.
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