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OP here. This is not actually going to help us decide who won the bet, lol. Sounds like it's de facto that electronic is OK but there's no official guidance allowing for it.Res Ipsa Loquitter wrote: ↑Sat Sep 03, 2022 12:29 pmThis is not legal advice.
They’re supposed to be signed in wet ink, but electronic was allowed for Covid, and now a lot of folks continue to do electronic
OP here--sigh. My firm is a peer firm of Cooley's and our tax folks are taking the same stance. I'm fully in support of getting rid of wet ink (forever).Anonymous User wrote: ↑Sat Sep 03, 2022 2:50 pm(not legal advice) everyone thinks e-sigs are fine, except for fucking Cooley which will literally consider a deal killer if you refuse to give a wet ink one and make it a huge thing. Fuck Cooley.
The more interesting bet is whether the government even looks at the FIRPTA certs they receive.Anonymous User wrote: ↑Sat Sep 03, 2022 6:05 pmOP here. This is not actually going to help us decide who won the bet, lol. Sounds like it's de facto that electronic is OK but there's no official guidance allowing for it.Res Ipsa Loquitter wrote: ↑Sat Sep 03, 2022 12:29 pmThis is not legal advice.
They’re supposed to be signed in wet ink, but electronic was allowed for Covid, and now a lot of folks continue to do electronic
The form does not get mailed to the IRS, what are you talking about? It has to be retained for 5 years for audit purposes. I think you're thinking of a withholding certificate obtained from the IRS, which is different...Anonymous User wrote: ↑Thu Sep 08, 2022 7:38 pmTax associate here and looked into this question more than once. The answer was always wet signature (at least at my V5) because, as an earlier post pointed out, FIRPTA cert is not on the list of forms approved for e-signature. No one wants to find themselves in a situation where the proceeds are subject to withholding because of a potentially invalid FIRPTA. The form gets mailed to the IRS, btw.
Not legal advice obviously.
897(c) and 1445-11T certs are actually technically supposed to be mailed to the IRS within 30 days of execution. there are loads of folks who don't do this, but it is required.Anonymous User wrote: ↑Thu Sep 08, 2022 7:47 pmThe form does not get mailed to the IRS, what are you talking about? It has to be retained for 5 years for audit purposes. I think you're thinking of a withholding certificate obtained from the IRS, which is different...Anonymous User wrote: ↑Thu Sep 08, 2022 7:38 pmTax associate here and looked into this question more than once. The answer was always wet signature (at least at my V5) because, as an earlier post pointed out, FIRPTA cert is not on the list of forms approved for e-signature. No one wants to find themselves in a situation where the proceeds are subject to withholding because of a potentially invalid FIRPTA. The form gets mailed to the IRS, btw.
Not legal advice obviously.
But yeah. Formal answer, you need a wet ink. Practical answer, this gets done with a fair amount of frequency without a wet ink.
This is not legal advice blah blah.