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Taxes when buying from Foreign seller question

BeachMouse

New Member
Original Poster
So last year I purchased a contract and the seller was from out of the country. I have heard about issues with this so I asked the title company, Mason Title. I have a specific email from them stating that they hold taxes and assured me I would have no problem and no responsibility. Well this afternoon I received a letter from the IRS stating ”this letter is my approved withholding certificate and the withholding amount has been reduced to $352.60. And to remit an 8288 and 8288A form and payment.“
Has this happened to anyone? What do I need to do here?
Does this mean the title company made an error or am I misunderstanding this?
Thanks
 

nickys

Premium Member
So last year I purchased a contract and the seller was from out of the country. I have heard about issues with this so I asked the title company, Mason Title. I have a specific email from them stating that they hold taxes and assured me I would have no problem and no responsibility. Well this afternoon I received a letter from the IRS stating ”this letter is my approved withholding certificate and the withholding amount has been reduced to $352.60. And to remit an 8288 and 8288A form and payment.“
Has this happened to anyone? What do I need to do here?
Does this mean the title company made an error or am I misunderstanding this?
Thanks
Contact the title company, Mason.

It could be an error on the part of the seller, the title company or a mix up along the way with the taxes not being credited properly. Either way it should be Mason who sort it out, not you.
 

BeachMouse

New Member
Original Poster
Contact the title company, Mason.

It could be an error on the part of the seller, the title company or a mix up along the way with the taxes not being credited properly. Either way it should be Mason who sort it out, not you.
Thank you
 

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