{"id":936557,"date":"2026-02-12T08:34:18","date_gmt":"2026-02-12T13:34:18","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/boss-money-app-helps-senders-avoid-the-new-1-remittance-tax\/"},"modified":"2026-02-12T08:34:18","modified_gmt":"2026-02-12T13:34:18","slug":"boss-money-app-helps-senders-avoid-the-new-1-remittance-tax","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/boss-money-app-helps-senders-avoid-the-new-1-remittance-tax\/","title":{"rendered":"BOSS Money App Helps Senders Avoid the New 1% Remittance Tax"},"content":{"rendered":"
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\n NEWARK, N.J., Feb. 12, 2026 (GLOBE NEWSWIRE) — <\/strong>A new federal excise tax on international money transfers funded with cash, money orders, or cashier\u2019s <\/b>checks went into effect on January 1, 2026. The cost of this tax, 1% of the amount transferred<\/b>, will add up quickly for the millions of U.S. money transfer consumers who rely on international remittances to support loved ones overseas.<\/p>\n

Fortunately, the BOSS Money<\/u><\/i><\/a> international money transfer app enables customers to avoid the tax. <\/b>BOSS Money<\/i><\/a> is the remittance and payments brand of IDT Corporation<\/a> (NYSE: IDT)<\/p>\n

\n A Smart Way to Avoid the Tax: Go Digital<\/b>\n <\/p>\n

Because the tax applies only to transfers paid with cash or similar instruments but not to transactions funded with a debit card or bank account (ACH), customers can use the BOSS Money app to send money abroad without paying this new tax.<\/p>\n

\u201cThe BOSS Money app has always made sharing with family and friends affordable,\u201d said Michelle Rendo, head of marketing for BOSS Money. \u201cIf you don\u2019t want to pay the new remittance tax, we invite you to try the BOSS Money app to send money transfers funded with your debit card or bank account.\u201d<\/p>\n

\n A Trusted, Cost-Smart Alternative<\/b>\n <\/p>\n

The BOSS Money app combines low rates, transparent pricing, and secure technology to offer a superior user experience with advanced features including:<\/p>\n