“There’s a lot of money to be made”: IRS targets foreign real estate investors

In the past month, the Internal Revenue Service has announced two new audit campaigns targeting overseas investors who own or hold interests in U.S. property. The campaigns focus on foreign investors selling their interests in U.S. real estate and those who receive rental income from their American properties. The IRS generally expects to collect 15 percent of the amount a foreign seller realizes off a transaction, though exceptions can be made if the property is

source https://therealdeal.com/2020/10/16/theres-a-lot-of-money-to-be-made-irs-targets-foreign-real-estate-investors/