Excise Tax on Remittance Transfers
Details
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- Title
- Excise Tax on Remittance Transfers
- Posted
- Apr 13, 2026
- Comment period
- Apr 13, 2026 – Jun 13, 2026
- FR Doc
- 2026-07085
- CFR
- 26 CFR Parts 40 and 49
- Topics
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| Organization | Provider-level tax adjustment mechanism | Military personnel exemption |
|---|---|---|
America's Credit Unions AdvocacySupport America’s Credit Unions supports the IRS's proposed rules for the excise tax on remittance transfers, particularly the a | · | |
INFiN, A Financial Services Alliance Trade associationSupport INFiN, a national trade association representing financial services providers, supports the federal goal of improving ta | · | |
U.S. Money Express Co. BusinessSupport U.S. | · |
Explorer
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- Jun 12, 2026Money Services Business AssociationOpposeTrade association📎 Attachment
The Money Services Business Association (MSBA), representing the non-bank money services industry, opposes several aspects of the proposed regulations for the remittance tax. They argue that the semi-monthly deposit requirement is operationally burdensome for small retail agents, and they request the elimination of the tax-avoidance provision, a change in the timing of tax attachment to when funds are received, and an extension of the transition relief period.
Read comment → - May 27, 2026Your Tax BaseOpposeAdvocacy
Your Tax Base, a service for Americans living abroad, opposes the proposed excise tax on remittance transfers because it could unfairly tax self-transfers between personal accounts and create audit risks for those with established state domiciles. They argue that the rule creates a significant compliance burden and suggest implementing a de minimis exemption for small monthly transfers.
Read comment →
