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GEORGIA CERTIFICATION OF FOREIGN STATUSSection 1445 of the Internal Revenue Code provides that a transferee (buyer) of a U.S. real property interest must withhold tax if the transferor (seller) is
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To fill out Section 1445 of the form, follow these steps:
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Start by reading the instructions provided on the form to understand the purpose of Section 1445.
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Provide the necessary information in the designated fields of Section 1445.
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Ensure to correctly disclose any required details, such as the taxpayer identification number and the amount subject to withholding.
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Double-check your entries for accuracy and completeness.
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Note: It is recommended to consult with a tax professional or refer to the specific instructions of the form for detailed guidance in filling out Section 1445.

Who needs section 1445 of form?

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Section 1445 of the form is typically required by individuals or entities involved in real estate transactions.
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This section specifically pertains to the reporting and withholding of taxes on dispositions by foreign persons of U.S. real property interests.
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Therefore, individuals or entities who are either foreign persons selling U.S. real property interests or those involved in facilitating such transactions may need to fill out Section 1445 of the form.

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Section 1445 refers to a section of the Internal Revenue Service (IRS) Form 8288-A, which is used to report the sale or exchange of U.S. real property by foreign persons.
Any transferee or buyer of U.S. real property from a foreign seller is required to file Section 1445.
To fill out Section 1445, the buyer must provide details regarding the transaction, including the names of the seller and buyer, the property’s identification, the sale price, and ensure all relevant income tax withholding amounts are calculated accurately.
The purpose of Section 1445 is to ensure that tax withholding requirements are met when a foreign person sells U.S. real property, thereby ensuring the IRS can collect taxes owed on the potential capital gain.
The information that must be reported on Section 1445 includes the seller's and buyer's names, addresses, the property description, the amount realized by the seller, and the withholding amount.
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