One of the Most Misunderstood Areas of FIRPTA One of the most misunderstood areas of FIRPTA compliance involves whether withholding funds must always be immediately remitted to the IRS at closing. Many buyers and settlement agents assume the answer is yes. In many cases, it is. However, there is an important exception. Form 8288-B May Allow a Temporary Deferral When a properly prepared and timely submitted IRS Form 8288-B withholding certificate application is filed, IRS proc