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Ignore the 2026 1% IRS excise tax on cash moves and you could go broke
The new 1% federal excise tax on certain cash and money transfers starting in 2026 is not a nuisance fee you can shrug off. For households that move money across borders, run cash-heavy businesses, or ...
The One Big Beautiful Bill Act (OBBB), signed into law on July 4, 2025, includes sweeping changes to the U.S. Internal Revenue Code (Code). Changes involve the expansion of excise taxes imposed on ...
The Internal Revenue Service (IRS) and U.S. Treasury Department have issued final regulations (T.D. 10037) (Final Regulations) under Section 4501 of the Code (the Excise Tax) that withdraw the ...
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