Starting January 1, New 1% Remittance Tax Hits Cash Transfers in the United States

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Starting January 1, 2026, a new U.S. law will impose a 1% remittance tax on certain international money transfers. This change affects senders who pay with cash, money orders, or cashier’s checks. Consequently, a $1,000 transfer paid in cash would add $10 in tax. However, not all payment methods are taxed. For example, transfers using […]