1% Remittance Excise Tax from 2026: Cash Transfers Taxed—Bank-Account Funding Compliance Planning
OBBBA added §4475: a 1% excise tax on certain outbound remittances after Dec. 31, 2025. Cash/money-order/cashier’s-check funding is generally taxed; withdrawals from BSA-regulated accounts or U.S.-issued debit/credit cards are generally exempt. Check how you fund China remittances.
Read article