Join 250,000+
professionals today
Add Insights to your inbox - get the latest
professional news for free.
The IRS Is Rewriting the Rules on Remittances and Fuel Tax Refunds
Join our 250K+ subscribers
Join our 250K+ subscribers
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...
Until next time…
Don’t forget to share this story on LinkedIn, X and Facebook
Subscribe now for $199 and get unlimited access to MYCPE ONE, from CPE credits to insights Magazine
📢MYCPE ONE Insights has a newsletter on LinkedIn as well! If you want the sharpest analysis of all accounting and finance news without the jargon, Insights is the place to be! Click Here to Join
You’ve reached the 3 free-content piece limit. Unlock unlimited access to all News & CPE resources.
Subscribe Today.
Already have an account?
Sign In
