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The US Internal Revenue Service (IRS) have announced the new federal income tax brackets and standard deductions for 2026, offering some relief to Americans as they prepare for next year’s tax returns.
On May 22, 2025, the US House of Representatives passed the controversial ‘The One, Big, Beautiful Bill’. The Bill includes a significant provision levying an excise tax on every single dollar of remittance or international money transfer made by non-US citizens.
A new tax has been proposed in the United States one that is aimed at these remittances specifically. A US bill proposes a 5% excise tax on any remittances that originate in the US to any other country.