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This version of the form is not currently in use and is provided for reference only. Download this version of
Form REW-1-1120
for the current year.
Form REW-1-1120 Real Estate Withholding Return for Transfer of Real Property by Sellers That Are Corporations - Maine
What Is Form REW-1-1120?
This is a legal form that was released by the Maine Department of Administrative and Financial Services - a government authority operating within Maine. As of today, no separate filing guidelines for the form are provided by the issuing department.
FAQ
Q: What is Form REW-1-1120?A: Form REW-1-1120 is the Real Estate Withholding Return for Transfer of Real Property by Sellers That Are Corporations.
Q: Who uses Form REW-1-1120?A: Form REW-1-1120 is used by sellers that are corporations to report and remit withholding tax on the transfer of real property in Maine.
Q: What is real estate withholding?A: Real estate withholding is the process of deducting and remitting a percentage of the sales price from the proceeds of a real estate transaction.
Q: When should Form REW-1-1120 be filed?A: Form REW-1-1120 should be filed within 30 days of the transfer of real property.
Q: What is the purpose of Form REW-1-1120?A: The purpose of Form REW-1-1120 is to report and remit withholding tax on the transfer of real property by sellers that are corporations in Maine.
Q: Is Form REW-1-1120 the same as Form 1099-S?A: No, Form REW-1-1120 is a specific form used for real estate withholding in Maine, while Form 1099-S is a federal form used to report real estate transactions.
Q: What are the consequences of not filing Form REW-1-1120?A: Failure to file Form REW-1-1120 or remit the required withholding tax may result in penalties and interest being assessed.
Q: Are there any exemptions from real estate withholding?A: Yes, there are certain exemptions and reduced withholding rates available. It is recommended to consult the instructions for Form REW-1-1120 or seek professional advice to determine if any exemptions apply.
Q: Can Form REW-1-1120 be e-filed?A: No, at the time of writing this, Form REW-1-1120 cannot be e-filed and must be filed by mail.
Form Details:
- Released on November 1, 2018;
- The latest edition provided by the Maine Department of Administrative and Financial Services;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a printable version of Form REW-1-1120 by clicking the link below or browse more documents and templates provided by the Maine Department of Administrative and Financial Services.
Download Form REW-1-1120 Real Estate Withholding Return for Transfer of Real Property by Sellers That Are Corporations - Maine
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