The US Treasury Department and the Internal Revenue Service (IRS) have issued a notice requesting comments concerning IRS Form 8288 (US Withholding Tax Return for Dispositions by Foreign Persons of US Real Property Interests) and Form 8288-A (Statement of Withholding on Dispositions by Foreign Persons of US real Property Interests). Foreign persons who dispose of interests in US real property are subject to US tax by FIRPTA (Foreign Investment in Real Property Tax Act). Under section 1445 of the US Internal Revenue Code (IRC), which is the FIRPTA withholding provision, a person who purchases a US real property interest (USRPI) from a...