Search Results for keywords:"Treasury Department"

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Search Results: keywords:"Treasury Department"

  • Type:Notice
    Citation:86 FR 8678
    Reading Time:less than a minute

    The United States Mint, part of the Department of the Treasury, has released pricing information for the 2021 National Law Enforcement Memorial and Museum Commemorative Coin Program and the Christa McAuliffe Silver Dollar. These products, including gold coins, will be priced based on a grid available on the Mint's website. For more details or inquiries, contact the program managers, Rosa Matos or Rosa Williams, at the provided address or phone number. Authority for this announcement derives from Public Law 116-94 and Public Law 116-65.

    Simple Explanation

    The Mint, which makes coins in the U.S., announced how much some special coins from 2021 will cost. But, to find the prices, one has to look online, which might be tricky for people who can't use the internet.

  • Type:Notice
    Citation:86 FR 7614
    Reading Time:less than a minute

    The United States Mint, part of the Treasury Department, has announced the price for the Armed Forces 2.5 oz. Silver Medals, which will be $160.00. This announcement is documented as a notice in the Federal Register and provides the contact information for Ann Bailey, from the Mint’s Sales and Marketing team, for any further inquiries. The pricing is authorized under 31 U.S.C. 5111(a)(2).

    Simple Explanation

    The U.S. Mint, which makes its products like coins, announced that a special 2.5-ounce silver medal for the military will cost $160, and if anyone has questions, they can ask a person named Ann Bailey.

  • Type:Notice
    Citation:90 FR 13406
    Reading Time:about a minute or two

    The United States Mint has announced a public meeting of the Citizens Coinage Advisory Committee (CCAC) for April 15, 2025, which will be held remotely via videoconference. The meeting will discuss the American Liberty 24K Gold Coin and Silver Medal theme for 2027 and beyond. The public can view the meeting live on the United States Mint's YouTube Channel. For more information or accommodations, interested parties can contact the designated avenues provided by the Mint.

    Simple Explanation

    The United States Mint is telling people that there will be an online meeting on April 15, 2025, where they will talk about special coins. People can watch it live on YouTube.

  • Type:Proposed Rule
    Citation:89 FR 102841
    Reading Time:about 2 minutes

    The Treasury Department and the Internal Revenue Service published a correction to a proposed rule, initially released on November 20, 2024, associated with partnership tax rules for certain unincorporated organizations. This rule outlines the administrative criteria for these organizations to elect exemption from partnership tax regulations. Public comments are welcome until January 21, 2025, and a public hearing is scheduled for February 7, 2025. Corrections include removal of specific language in the original publication.

    Simple Explanation

    The Treasury Department and IRS are making a change to some rules about taxes for certain businesses that don't have a formal company setup. They're fixing a mistake in the rules they shared earlier, and they would love to hear what people think about these rules until January 21, 2025. There will also be a meeting to talk more about it on February 7, 2025.

  • Type:Presidential Document
    Citation:90 FR 14001
    Reading Time:about 4 minutes

    In Executive Order 14247, the U.S. President outlines plans to modernize government payment systems by eliminating paper checks and transitioning to electronic payments, starting on September 30, 2025. This change aims to reduce costs, fraud, and inefficiencies while increasing the security of federal payments. The order mandates that all federal payments, including benefits, tax refunds, and vendor payments, be processed electronically, with exceptions for certain situations like emergencies or national security. The Secretary of the Treasury, along with other agencies, is tasked with ensuring a smooth transition by supporting affected individuals and promoting public awareness of the new system.

    Simple Explanation

    Imagine the President of the United States wants to stop using paper checks to pay people and instead use computers to send money, kind of like how you send messages on a phone. This will help make sure the money is safe and fast, but they need to make sure it works for everyone, even those who don’t have a bank.

  • Type:Notice
    Citation:86 FR 10413
    Reading Time:about 47 minutes

    The Community Development Financial Institutions (CDFI) Fund is inviting applications for financial assistance or technical assistance grants through the Native American CDFI Assistance (NACA) Program for fiscal year 2021. FA awards of up to $1 million are available for CDFIs serving Native American, Alaska Native, or Native Hawaiian populations to enhance their lending operations, while TA grants of up to $150,000 aim to build CDFIs’ organizational capabilities. The funding is contingent on availability, and applicants must adhere to various application and eligibility guidelines outlined by the Treasury Department's CDFI Fund.

    Simple Explanation

    The government is offering money to help special banks that serve Native American communities so they can get better at lending money to people. Some banks can get a big amount of money, while others can get a smaller amount to improve how they work.

  • Type:Notice
    Citation:90 FR 9664
    Reading Time:about a minute or two

    The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has added two individuals and one entity to its Specially Designated Nationals and Blocked Persons List. This means their property and interests in property under U.S. jurisdiction are blocked, and U.S. individuals and companies are generally prohibited from doing business with them. This action, which was issued on February 11, 2025, is part of OFAC's ongoing sanctions efforts. More details can be found on OFAC's website.

    Simple Explanation

    The U.S. Treasury made a special list of people and a company that Americans can’t trade with because they did something wrong, but they didn’t say who they are or why in the document.

  • Type:Rule
    Citation:90 FR 12106
    Reading Time:about 7 minutes

    The Financial Crimes Enforcement Network (FinCEN), part of the U.S. Treasury Department, has issued a Geographic Targeting Order for certain money services businesses along the southwest border of the U.S. These businesses must report currency transactions of more than $200 but not more than $10,000 and verify the identity of those making these transactions. The order, effective from April 14, 2025, to September 9, 2025, covers specific areas in California and Texas and aims to combat illegal financial activities by drug cartels. Failure to comply with this order could result in civil or criminal penalties.

    Simple Explanation

    The U.S. government wants certain places that help people send money near the southwest border to pay extra attention to any money amounts between $200 and $10,000 to catch bad guys using money for illegal stuff. These places have to check who is sending the money and keep records of these transactions to make sure everything is safe and honest.

  • Type:Proposed Rule
    Citation:86 FR 11673
    Reading Time:about 2 minutes

    The Internal Revenue Service (IRS) is holding a public hearing on March 25, 2021, for proposed regulations to exclude certain partnership-related items from the centralized partnership audit system. This hearing will take place by teleconference, and anyone wishing to speak must email an outline of their discussion topics by March 12, 2021. If no outlines are received by this date, the hearing will be canceled. Those interested in attending or speaking must email publichearings@irs.gov with specific details to obtain access information.

    Simple Explanation

    The government wants to change some rules about how they check on large groups of people who work together in business. They plan to have a phone meeting to talk about these changes, and people can join and talk too, but they must ask ahead of time if they want to be part of the conversation.

  • Type:Notice
    Citation:86 FR 6964
    Reading Time:about 26 minutes

    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.

    Simple Explanation

    Imagine a rule that lets banks skip reporting when their special friends (customers) bring in lots of cash at once. The people in charge want to know if this rule is really working well and isn't too much work, so they're asking people to share what they think about it.