The IRS and the Department of the Treasury issued guidance providing deposit penalty relief for the first three quarters of 2026 to remittance transfer providers. The new excise tax is effective Jan.1, 2026, and remittance transfer providers are required to collect the remittance transfer tax from certain senders, make semimonthly deposits and file quarterly returns, with the first semimonthly deposit due Jan. 29, 2026. [IR- 2025-102 (Oct. 07, 2025)]
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