U.S. Treasury and IRS Issue Proposed Regulations for New 1% Remittance Transfer Tax

The U.S. IRS has announced the issuance of proposed regulations for the new 1% remittance transfer tax that applies to remittances sent from the United States to recipients in foreign countries when the sender provides cash, a money order, a cashier's check, or other similar physical instrument to the remittance transfer provider.

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Treasury, IRS issue proposed regulations on the new remittance transfer tax established under the One, Big, Beautiful Bill

WASHINGTON — The Department of t…