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The Department of the Treasury's Office of Investment Security has updated the maximum civil monetary penalties linked to the Outbound Investment Security Program. These updates are part of an annual inflation adjustment required by law and will be effective until January 14, 2026. The new maximum penalty for violations is $377,700 or twice the amount of the transaction involved, whichever is greater. These changes are mandated by the Federal Civil Penalties Inflation Adjustment Act, with the specific multiplier for 2025 being 1.02598.

The Office of the Comptroller of the Currency (OCC) is seeking public comments on renewing its information collection regarding leasing, as mandated by the Paperwork Reduction Act of 1995 (PRA). This renewal is necessary for the OCC to obtain approval from the Office of Management and Budget (OMB) for information collection activities. Businesses or other profit organizations are the affected public, with an estimated annual burden of 300 hours across 30 respondents. Comments are invited on various aspects of this information collection, including its necessity, accuracy, and ways to minimize the burden on respondents.

The Internal Revenue Service (IRS), part of the Treasury Department, announced a meeting of the Taxpayer Advocacy Panel's Special Projects Committee. The meeting is open to the public and will take place on February 10, 2021. Its goal is to gather public comments and suggestions to enhance customer service at the IRS. Interested individuals can contact Antoinette Ross for more information or to participate.

The Internal Revenue Service (IRS) has issued a notice requesting public feedback on the continued collection of information related to tax deferments for individuals serving in combat zones or affected by Presidentially declared disasters. This effort, aligned with the Paperwork Reduction Act of 1995, aims to assess whether these information collections are useful and reduce the paperwork burden for respondents. The IRS is particularly interested in comments on the necessity, accuracy, and potential improvements of these collections, encouraging the use of electronic submissions where possible. The deadline for comments is May 30, 2025.

The Treasury Department's Internal Revenue Service (IRS) is requesting public comments on forms used by business entities, as part of efforts to reduce paperwork and respondent burden. This request is in compliance with the Paperwork Reduction Act of 1995 and involves forms such as 1065, 1120, and others related to business income tax returns. The IRS estimates that 13.9 million respondents will spend an average of 67 hours and 25 minutes, with a total annual monetized time valued at $56,152,000,000, and total out-of-pocket costs at $71,617,000,000. Comments are to be received by January 21, 2025, to ensure consideration.

The Department of the Treasury, through the Bureau of the Fiscal Service, issued a notice correcting previous errors regarding fees for surety and reinsuring companies, as published in the Federal Register on December 2, 2024. The original document introduced new renewal fees for various types of reinsurers and increased existing fees, to be effective from January 1, 2025. Due to typographical errors affecting dollar amounts in the initial publication, corrections have now been issued, specifying the updated fee rates.

The Internal Revenue Service (IRS) will hold an open meeting for the Taxpayer Advocacy Panel's Toll-Free Phone Lines Project Committee on April 8, 2025. This meeting aims to gather public comments, ideas, and suggestions to improve customer service at the IRS and will be conducted via teleconference. People interested in participating can make oral comments or submit written statements; however, they must notify Rosalind Matherne in advance due to time constraints. More details can be found on their website or by contacting the TAP Office.

The Internal Revenue Service (IRS) is announcing an open meeting of the Taxpayer Advocacy Panel Joint Committee scheduled for Thursday, March 25, 2021. This meeting will take place via teleconference and is open to the public, who are encouraged to present their comments and suggestions on how the IRS can improve customer service. Participants can attend by phone and are welcome to contribute both oral and written inputs. Further details can be obtained by reaching out to Gilbert Martinez at the provided contact numbers.

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has unblocked the property and interests of certain individuals and entities, removing them from the list of Specially Designated Nationals and Blocked Persons. These changes were determined on January 13, 2025, and involve several individuals from Mexico and Colombia and entities located in Honduras and Mexico. The names and details of those affected are available on OFAC's website.

The Department of the Treasury is seeking feedback from the public and other agencies on a proposed extension of its current data collection requirements related to international capital and foreign currency transactions. These recordkeeping requirements help the Treasury to manage U.S. claims and liabilities involving foreigners, securities transactions with foreigners, and foreign currency transactions of U.S. businesses. The department is requesting comments on various aspects of these requirements, including their necessity, accuracy, and ways to reduce the paperwork burden on businesses. Written comments should be submitted by April 28, 2025.