Search Results for keywords:"Treasury Department"

The Community Development Financial Institutions Fund (CDFI Fund) under the Treasury Department has announced the availability of funds through its CDFI Program for the 2025 fiscal year. The program offers Financial Assistance (FA) and Technical Assistance (TA) awards to eligible community-based financial institutions. These awards aim to enhance the capacity of these institutions to serve low-income markets and underserved communities. The availability of funding and any specific conditions depend on congressional appropriations and other federal guidelines.

The Financial Crimes Enforcement Network (FinCEN) is working to renew a rule that lets banks designate certain customers as "exempt persons" so they don’t have to report large cash transactions over $10,000 with them. The rule aims to help banks reduce paperwork and make it easier to manage these accounts. FinCEN is asking for public comments on the process and its impact on banks' workload to ensure it is effective and not unnecessarily burdensome. This is part of a broader effort to comply with the Paperwork Reduction Act of 1995, which seeks to minimize paperwork burdens on the public.

The U.S. Department of the Treasury announced its plan to submit various information collection requests to the Office of Management and Budget (OMB) for review, following the Paperwork Reduction Act of 1995. The public is encouraged to comment on these requests before February 6, 2025. The Internal Revenue Service (IRS) is revising its collections, introducing new forms such as Form 709-NA for nonresident gift tax transfers and expanding e-filing authorization forms like Forms 8453-EG and 8879-EG. These changes aim to streamline tax reporting and electronic filing processes.

The Department of State has identified individuals who have been added to the Treasury Department's Specially Designated Nationals and Blocked Persons List, due to their involvement in harmful activities linked to the Russian government. As a result, the property and interests of these individuals in the U.S. are blocked, and U.S. citizens are generally banned from conducting transactions with them. The full list can be accessed through the Office of Foreign Asset Control's website.

The Office of the Comptroller of the Currency (OCC) is requesting comments from the public and other federal agencies on renewing an information collection known as the "Bank Appeals Follow-Up Questionnaire." This is part of a broader effort to reduce paperwork and respondent burden under the Paperwork Reduction Act of 1995 (PRA). The information gathered will assess the effectiveness of the OCC's appeals process for banks and help improve it. Comments on the need, accuracy, and potential improvements of this information collection are invited, and they must be submitted by April 19, 2021.

The Internal Revenue Service (IRS) is inviting public and federal agency comments on their information collections related to the foreign tax credit and notifications of foreign tax redeterminations. This initiative is part of their ongoing efforts to reduce paperwork and the burden on respondents, as stipulated by the Paperwork Reduction Act of 1995. Comments need to be submitted by April 5, 2021, to be considered. The information collection requirement affects businesses or other profit-driven organizations, with an estimated annual burden of 56,065 hours across 13,500 respondents.

A correction has been made to a rule document from the Financial Crimes Enforcement Network of the Treasury Department. In the issue from January 28, 2021, there was a mistake in the table titled "Table 1" on page 7349. The date originally said "[INSERT DATE OF PUBLICATION IN THE FEDERAL REGISTER]" and has now been corrected to "January 28, 2021." This adjustment ensures accurate information is provided in the document.

The Community Development Financial Institutions Fund (CDFI Fund) of the Treasury Department is inviting applications for financial assistance and technical assistance grants under the CDFI Program for the fiscal year 2021. The program offers Financial Assistance (FA) awards up to $1 million and Technical Assistance (TA) grants up to $125,000 to eligible Community Development Financial Institutions to enhance their financial and organizational capacities. These awards prioritize low-income communities lacking access to affordable financial services. The application process requires compliance with specific federal regulations and submission deadlines via Grants.gov and the AMIS portal.

The Internal Revenue Service (IRS), part of the Treasury Department, planned a public hearing on February 7, 2025, concerning proposed rules for unincorporated organizations related to partnership tax rules. However, since no requests to testify were received by the deadline, the hearing has been cancelled. This cancellation was officially announced in the Federal Register on February 5, 2025.

The Internal Revenue Service (IRS) is organizing a public hearing about proposed rules for a federal income tax credit. This credit is under the Inflation Reduction Act of 2022 and is for costs related to alternative fuel vehicle refueling property, specifically in low-income or non-urban areas. The hearing is set for February 12, 2025, in Washington, DC, and participants can join in person or by phone. People interested in speaking at the hearing need to submit their discussion topics by January 10, 2025.