NYSE:IDTTelecom
How a New Remittance Tax Exemption Could Reshape IDT (IDT) Investors’ View of BOSS Money
IDT Corporation previously filed a US$10.95 million shelf registration for 175,000 shares of Class B common stock tied to an ESOP-related offering, while a new 1% federal excise tax on certain cash-funded international money transfers took effect on January 1, 2026.
Because IDT’s BOSS Money app allows users to fund transfers via debit cards or bank accounts, customers can avoid this new tax, potentially making the service more attractive in a crowded remittance market.
We’ll now examine how...