International Sale Issue?

[walt34]

I posted above and finally received a letter from the IRS in Jan that it was resolved (this goes back to a sale in Dec 2021). I also used Mason and the initial letter said the Form 8288-B was rejected because the transferor didn't follow procedures outlined in the Code of Fed. Reg. 1.1445.

If anyone finds out what the transferor actually did wrong (assuming we are seeing a repeat pattern), please post here. I'm an international owner (not currently thinking about selling) but I'd be interested to learn which (if any) mistakes were made to make sure that this won't happen to the buyer if I ever sell myself.

 

[lexxus379]

I posted above and finally received a letter from the IRS in Jan that it was resolved (this goes back to a sale in Dec 2021). I also used Mason and the initial letter said the Form 8288-B was rejected because the transferor didn't follow procedures outlined in the Code of Fed. Reg. 1.1445.

Along the way, I had a few conversations with IRS agents over the phone (with multiple transfers and 1hr+ waits) and it wasn't until I talked to someone in foreign accounts that I made progress. By the way, this agent was used to dealing with multi-million dollar international account and estate transfers and said this was filed wrong by someone on the IRS side (although it's a tad strange to me we all used Mason ¯\_(ツ)_/¯ ). This conversation was last ~May. He provided me with a new reference number and told me to ignore any warning letters I received later as it would take some time to receive final approval. That was quite difficult, tbh. I never received a seizure of assets notice, however.

Received that final* IRS letter in Jan 2024 (about 2 years after the purchase). It just said that my issue had been resolved. It didn't say what issue, I just assume (*hope*) it's referring to this one as I've had no other "issues" with the IRS.

Thank you for all of the details. I may call back and ask for foreign accounts to make sure the matter has been taken care of properly.

 

[EricLaurie]

I'm now 12 reps into this mess with the IRS since January and probably 20 hours plus dealing this and I've gotten literally nowhere. 11 of the 12 reps tell me I owe $0. I've asked for a manager - also gotten nowhere. Promised a callback - still waiting.

The one rep that could see a balance due had no idea why there was a balance due and said she was transferring me to someone who could help - she sent me to collections who said I owe $0.

The level of incompetence is stunning (not surprising, I know). I've asked for "foreign accounts". They say this department doesn't exist.

I was offered a chance to make an appointment with a local (40 miles away) office to go and discuss this. I'm going to decline. I'll try this again tomorrow. A small part of me says pay this bill and make it go away, but I don't owe anything!

Heed the warnings people - international transactions are not a good idea. This one has come back to haunt me big time and others on this thread. If you do decide to do an international purchase, out of an abundance of caution, do not use Mason Title until we can figure out whose fault this really is.

 

[DVChris]

There is a phone number of the foreign transactions department on the initial letter you may have received. I called this number and they were able to help. Hopefully they can help you as well.

 

[we"reofftoneverland]

I cannot emphasize enough use Jeffrey Sweet for title full stop.
100% more professional than any other title companies “pushed” by brokers and LESS expensive.

 

[Jimmy Geppetto]

I cannot emphasize enough use Jeffrey Sweet for title full stop.
100% more professional than any other title companies “pushed” by brokers and LESS expensive.

Do you have his contact details?

 

[we"reofftoneverland]

Do you have his contact details?

This was at the bottom of docs from title co
But your broker will have all the info