Our Form 8288-B was filed before closing but the IRS has not answered yet. Do we still send the withholding money right away?
The seller is from France and the closing agent filed Form 8288-B because the default FIRPTA amount looks far above the actual likely tax. The application was filed before closing, but we still have no IRS response. Now everyone is stuck on whether the money must be remitted immediately anyway or whether the pending certificate changes that timing.
I want a practical answer about what happens in this in-between period. If the statutory amount is still withheld but payment timing changes while the certificate is pending, the file needs to reflect that clearly so no one treats the deal like it is in default by accident.
Metered Q&A
Expert answer available
Checking your reading access. The answer will open in full when a free view or membership access is available.
Related Questions
The buyer says FIRPTA should be 15% of my profit, not 15% of the sales price. Is that right?
I am selling a condo in Florida as a nonresident seller from Germany. The buyer is trying to be cooperative, but they are also using internet summaries that seem to blend final tax with FIRPTA withhol...
The foreign seller has no ITIN yet. Does that stop the FIRPTA filing?
We are a small title team and the seller is from Mexico. The sale is moving fast, but the seller still does not have an ITIN, and the buyer is asking whether that means the whole FIRPTA package has to...
How do I stop FIRPTA from trapping cash I don't actually owe in tax?
My real gain on this US sale is small because my basis is high, but at 15% of the sale price the buyer would hold back a huge amount and I'd wait ages for a refund. Is there a way to reduce what's wit...
The buyer wants to skip FIRPTA because they say the house is a future residence, but they also plan to rent it for a while. Is that still safe?
I am a Canadian seller and the buyer is trying to use the residence exception to avoid withholding. The problem is that in side conversations they also talk about renting the house before eventually m...
What is Form 8288-A and why haven't I received my copy yet? It's been 3 months since closing.
I sold a property back in November through my foreign-owned LLC. The title company told me the FIRPTA withholding was submitted to the IRS, but I still haven't received Form 8288-A. My tax preparer sa...
I don't have a US tax number yet and I'm selling — does FIRPTA filing just stop?
Foreign seller here, closing soon, and I've never had a US tax ID. The title company says they still have to send the FIRPTA money to the IRS, but without my number I'm worried the paperwork can't be ...
The sale closed months ago and the foreign seller still never received the stamped Form 8288-A. Can they still claim credit later?
I am helping a family member from Italy who sold U.S. property last year. The closing company says they filed everything, but the stamped Form 8288-A never showed up at the foreign address. Now the se...
We have two foreign sellers on one deed. Do we need one FIRPTA statement or two?
My brother and I are both nonresident sellers on the same U.S. property sale. The closing company is handling the deal, but different people on the team are giving different answers on whether one FIR...
Does putting my US property in an LLC make FIRPTA go away?
Before I buy US real estate as a foreign person, I want to set it up right. A lot of formation services imply that holding the property in a US LLC means no FIRPTA when I eventually sell, because the ...
Which forms do the buyer file for FIRPTA, and what's the deadline I should be watching?
I'm the foreign seller and I want to know what the buyer (or the closing agent) is actually supposed to file for the FIRPTA withholding and by when. People mention Form 8288 and Form 8288-A but I don'...
Have a similar question?
ForeignLLCTax members get expert answers with IRS citations. One CPA consultation costs $200+. Full access is $9.99/month.
Become a Member — $9.99/moDisclaimer: All content on ForeignLLCTax.com is created by a tax professional and is provided for general educational and informational purposes only. It does not constitute tax, legal, or accounting advice, and should not be relied upon as such. Every tax situation is different — for advice specific to your circumstances, please consult a licensed CPA, Enrolled Agent, or tax attorney. By using this website, purchasing a subscription, or accessing any tools or services, you acknowledge that no client-professional relationship is established between you and ForeignLLCTax.com or its operators. This website is not affiliated with the IRS.
