Get your IRS Form 8288 in 3 easy steps
01 Fill and edit template
02 Sign it online
03 Export or print immediately
What Is IRS Form 8288
IRS Form 8288, known as the U.S. Withholding Tax Return for Dispositions by Foreign Persons, is used to report and withhold taxes on the sale or transfer of U.S. real property interests by non-U.S. individuals or foreign entities.
What Is Form 8288 Used For
The document serves the following purposes:
- reporting and withholding taxes on the sale or transfer of U.S. real property interests by foreigners or foreign organizations;
- calculating and remitting the required withholding tax on these property transfers;
- identifying the parties involved (transferor, transferee) and providing property details;
- determining the withholding amount based on the transaction value;
- reporting transaction information to ensure tax compliance with the IRS;
- ensuring proper withholding and reporting per U.S. laws for foreign individuals involved in real estate transactions.
How to Fill Out Tax Form 8288
Follow these steps to complete Tax Form 8288:
- Obtain the doc template from the IRS website or a tax professional or access it through PDFLiner.
- Review the entire form to get the gist of its layout.
- Provide the withholding agent's basic information at the top, including name, address, and taxpayer identification number (SSN or EIN).
- Enter property information, such as address and description.
- Report the total amount realized from the property transfer in Part I.
- Determine the withholding tax amount (usually 15% of the total amount realized) in Part II unless a reduced rate or exemption applies.
- If an exemption from withholding is applicable, specify the exemption code and include supporting documentation in Part III.
- Complete Part IV if a foreign corporation is involved, providing their name, address, and taxpayer identification number.
- Attach necessary supporting documents like the sales contract or settlement statement, as instructed.
- Digitally sign the file using PDFLiner's e-signature feature.
- Review all entered information for maximum accuracy before saving a copy for your personal records.
Difference Between Form 8288 and 8288 A
Both documents are utilized for reporting and withholding taxes on the disposition of U.S. real property interests by nonnationals. However, Form 8288 is used by the transferee/buyer to report and withhold tax, while 8288-A is used by the withholding agent to report and remit the amount withheld. We hope it makes the picture clearer for you.
What people say
Now that I’ve switched from Word to PDFLiner, I save lots of time processing and digitally distributing tons of billing forms, work orders, forecast reports, and invoices. In addition to this, thanks to PDFLiner, we’ve significantly minimized our paper consumption. Excellent tool that helps me cope with my business workflow faster and easier.
PDFLiner allows me to streamline the processes of generating and managing legal documents, as well as collecting electronic signatures for all my contracts and agreements. I like that I can customize forms on the go and access PDFLiner from all my gadgets. No more printing or scanning! That’s just brilliant!
When you’re a student, you deal with PDFs a lot… Newsletters, various worksheets, official forms you need to fill in and sign, etc… To me, filling out a PDF form used to be among the trickiest and most time-consuming things ever. But then a friend of mine introduced me to PDFLiner, and oh my God, my life has changed since then. It’s easy to use and has so many great features. Just awesome, I love it!
Fillable online IRS Form 8288