Who actually transfers the payment to the IRS when selling a property?

Hello friends, 

I'm preparing for the sale of my first property in the United States, which will list my name and my wife's name.

As part of the sale, there is a 15% payment to the IRS from the sale price (!)

Who actually transfers the payment to the IRS?

Of course the deal is accompanied by an attorney who also accompanied me in buying.

I would love your help and recommendations!

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Responses

  1. And certainly Max and thanks for tagging.
    1. This is a withholding tax starting from the sale of real estate to a foreign resident of a non-US Israeli seller. The withholding tax rate is 15 percent of the sale price
    See:
    https://www.irs.gov/individuals/international-taxpayers/firpta-withholding
    This is a duty that applies to the purchaser (and is actually exercised by the purchaser's attorney or the TITLE company
    3. They must provide you with an official form so that you can qualify for this tax upon filing the annual tax report.
    https://www.irs.gov/pub/irs-pdf/f8288a.pdf

    4. There is a possibility in some cases of reduced or reduced deduction

    Please say if there are any further questions

    Asher Turiel, CPA (Israel), Tax Advisor (USA)