The new 1% federal excise tax on certain cash and money transfers starting in 2026 is not a nuisance fee you can shrug off.

A proposed section in the U.S. House of Representatives version of the One Big Beautiful Bill (OBBB) would impose a 3.5 percent excise tax on a remittance of money. This proposal has wide-ranging ...

Businesses in the United States have to pay a variety of taxes on the products they sell. The most common example of this is sales tax. But in some cases, companies may also have to pay excise taxes.

On August 12, 2022, the U.S. House of Representatives approved H.R. 5376, the “Inflation Reduction Act” (the Act), which was signed into law by President Biden on August 16, 2022. The approval and ...

This interim guidance may be relied upon until regulations addressing the provision are issued. It is expected that the regulations will closely follow the definitions and rules in the notice. The ...

Tax season is upon us. For some, it may be your first time filing taxes. And even for those who have filed for years, taxes are not always the easiest task to tackle. From income tax to sales tax, ...

The IRS has provided data on federal Superfund excise taxes, which started hitting hit resin buyers' invoices July 1. The net result for many plastics processors likely will be higher prices — close ...