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The IRS Is Rewriting the Rules on Remittances and Fuel Tax Refunds
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Subscribe12 MAY 2026 / IRS UPDATES
The US Treasury Department and the IRS have proposed new tax regulations related to the One Big Beautiful Bill Act, specifically targeting cross-border remittance transfers and dyed fuel excise tax refunds. From January 1, 2026, a 1% remittance tax will be levied on physical payments sent abroad, while businesses who paid the initial excise tax on dyed diesel fuel and kerosene would be the only entities eligible to claim refunds, potentially causing complexities for fuel distributors and middle-market operators.
Tax professionals know the feeling. One day you are wrapping up quarterly filings, the next day Treasury slides a fresh stack of proposed regulations across the table like a diner server dropping the check five minutes before closing. That is pretty much...
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