Search Results for keywords:"Treasury Department"

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Search Results: keywords:"Treasury Department"

  • Type:Notice
    Citation:86 FR 704
    Reading Time:about 2 minutes

    The Department of the Treasury is submitting information collection requests to the Office of Management and Budget (OMB) for review, in line with the Paperwork Reduction Act of 1995. This involves the Internal Revenue Service's (IRS) Annual Return/Report of Employee Benefit Plan, which is used to check if retirement plans meet the required standards or need auditing. They are inviting public comments on these requests until February 5, 2021. The information collection affects businesses, individuals, and non-profits, with an estimated 929,000 responses expected annually and a total burden of approximately 934,830 hours.

    Simple Explanation

    The Treasury Department wants to make sure that businesses are doing a good job taking care of their employees' retirement plans and they're asking people to tell them what they think about it. They have to keep checking things to make sure everything is right, and they're trying to make it easier for everyone to understand how this works.

  • Type:Notice
    Citation:86 FR 2033
    Reading Time:about 8 minutes

    The Office of the Comptroller of the Currency (OCC) is seeking public comments on the renewal of the "Fair Housing Home Loan Data System Regulation" information collection. This request is part of the agency's effort to reduce paperwork and respondent burden, in accordance with the Paperwork Reduction Act. The regulation requires certain national banks to collect and maintain specific data on home loans, especially if they receive over 50 home loan applications annually. The OCC is asking for feedback on whether the information collections are necessary, how to reduce the burden on respondents, and any start-up or ongoing costs associated with providing the information.

    Simple Explanation

    The government wants to know what people think about a rule that helps them keep track of who is asking for home loans. They are trying to see if they can make the rule simpler and less work for banks.

  • Type:Notice
    Citation:89 FR 104308
    Reading Time:about a minute or two

    The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has announced that they are adding one or more persons to their Specially Designated Nationals and Blocked Persons List (SDN List). This action means that any property or interests these individuals have within the United States are now blocked. As a result, people in the U.S. are generally not allowed to conduct transactions with these individuals. The decision was effective as of December 17, 2024.

    Simple Explanation

    The U.S. Treasury Department has decided to put some people on a special list because they did something that makes it so people in the U.S. can't do business with them anymore. This means any things these people own in the U.S. are now frozen and can't be touched.

  • Type:Notice
    Citation:89 FR 104613
    Reading Time:less than a minute

    The United States Mint, part of the Treasury Department, announced new pricing for its numismatic clad products. These prices will become effective on January 2, 2025. The change is officially documented in the Federal Register under citation 89 FR 104613 and legal authority granted by specified sections of the U.S. Code. For further details or inquiries, Derrick Griffin at the United States Mint can be contacted.

    Simple Explanation

    The United States Mint will change the prices of some special coins starting January 2, 2025. These changes are officially recorded so everyone knows what's happening.

  • 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 13994
    Reading Time:about 2 minutes

    The Internal Revenue Service (IRS) is asking for public feedback on the information collection related to Form 1099-PATR, which reports taxable distributions from cooperatives. This effort is part of their ongoing attempts to lessen the paperwork and time burden for people and organizations. The IRS is especially interested in comments about whether the information collection is actually needed, how accurate their burden estimates are, and ways to make the process easier, including electronic submissions. Feedback is requested by May 27, 2025.

    Simple Explanation

    The IRS wants to hear what people think about a form called 1099-PATR, which talks about money they get from groups called cooperatives. They want ideas to make it easier and faster for everyone to fill out this form.

  • Type:Notice
    Citation:86 FR 2739
    Reading Time:about 6 minutes

    The Office of the Comptroller of the Currency (OCC), part of the Treasury Department, is asking for public comments on its information collection related to the "Uniform Interagency Transfer Agent Registration and Deregistration Forms." This request is part of their efforts to reduce paperwork and respondent burden per the Paperwork Reduction Act of 1995. The forms, known as TA-1 and TA-W, are used by national banks and Federal savings associations to register or deregister as transfer agents for securities. The OCC wants feedback on whether these forms are needed, if their time estimates are accurate, and how they might improve the process. Comments about this information collection must be submitted by March 15, 2021.

    Simple Explanation

    The government is asking people to tell them if the forms banks use for becoming or stopping being a helper with handling stocks are easy and fast enough to fill out. They also want to know if people have ideas on making the forms better.

  • Type:Notice
    Citation:89 FR 104290
    Reading Time:about 83 minutes

    The Community Development Financial Institutions Fund (CDFI Fund), part of the U.S. Department of Treasury, has announced the availability of up to $500 million in guarantees for fiscal year 2025 under the CDFI Bond Guarantee Program. This program is designed to help Community Development Financial Institutions (CDFIs) by offering bond guarantees that support lending for economic development projects. Interested parties need to submit their applications by specified deadlines in early 2025. The rules and detailed requirements for the application and qualification processes are explained in the notice, which also includes guidance on compliance with regulations and statutes.

    Simple Explanation

    The U.S. Treasury has a plan to help communities by giving out promises to pay, called guarantees, worth up to $500 million in 2025, but to get these, groups must follow some tricky rules and fill lots of paperwork.

  • Type:Notice
    Citation:89 FR 104315
    Reading Time:about a minute or two

    The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has announced that certain individuals have been added to its Specially Designated Nationals and Blocked Persons List. This action means that all property and interests in property within U.S. jurisdiction belonging to these individuals are blocked. U.S. persons are generally prohibited from conducting transactions with these individuals. More details, including the list and additional information about OFAC's sanctions programs, can be found on their website.

    Simple Explanation

    The U.S. Treasury put some people on a special list that means Americans aren't allowed to do business with them, and anything those people own in the U.S. is frozen, kind of like when a toy gets taken away and can't be played with anymore.

  • Type:Notice
    Citation:90 FR 9944
    Reading Time:about 2 minutes

    The Internal Revenue Service (IRS) is seeking public comments on Form W-2G, which is used for reporting certain gambling winnings. This request is part of the IRS's efforts to reduce paperwork and make it easier for people to comply with tax laws. The agency needs feedback to ensure the information collected is helpful and the process is as efficient as possible. Comments are open until April 21, 2025, and aim to improve the quality and clarity of information collected, as well as explore ways to minimize the burden on those who need to fill out the form.

    Simple Explanation

    The IRS is asking people to share their thoughts about a form called W-2G, which tells them about money won from gambling. They want to make it easier to fill out the form, so people don't have to do too much work with it.