Category: Treasury

Treasury

“Biden’s Treasury Department To Work To Endure Families Get Access To Economic Impact Payments

WASHINGTON, D.C. (January 22, 2021)---in response to President Joe Biden’s COVID-19 Economic Relief Executive Order launching an all-of-government effort to provide economic relief, the U.S. Department of the Treasury will work to stand up an effort to help households who have not yet been able to access their stimulus payments…
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Treasury

“Treasury Takes Further Action Against Russian-linked Actors”

WASHINGTON, D.C. (January 11, 2021)---today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) took additional action against seven individuals and four entities that are part of a Russia-linked foreign influence network associated with Andrii Derkach. Russian agent Derkach was designated on September 10, 2020, pursuant to…
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Legislative Branch

Trump Not To Sign Second Stimulus Bill: Demands A Suitable Stimulus Bill Without Wasteful And Unnecessary Items

WASHINGTON, D.C.--today President Donald J. Trump tweeted a video about the stimulus bill. President Trump has not sign the stimulus package.   Trump is asking Congress to increase the stimulus payment--that increases the $600 payment to $2000 and $4000 for couples. Illegal aliens are receiving $1800---$1200 more dollars than citizens.   Congress…
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Treasury

“Treasury Releases Report on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States”

WASHINGTON (December 16, 2020) – The U.S. Department of the Treasury today delivered to Congress the semiannual Report on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States. In this Report, Treasury reviewed and assessed the policies of 20 major U.S. trading partners during the four…
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Treasury

“Treasury Sanctions Militia and Its Leader in Connection with Serious Human Rights Abuse in Libya”

Washington –the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) took action against Mohamed al-Kani (al-Kani) and the Kaniyat militia, which is responsible for the murder of civilians recently discovered in numerous mass graves in Tarhouna, as well as torture, forced disappearances, and displacement of civilians. Al-Kani and…
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Treasury

“The Treasury Department and IRS issue final regulations regarding like-kind exchanges of real property”

WASHINGTON –  the Treasury Department and Internal Revenue Service issued final regulations PDF relating to section 1031 like-kind exchanges. These final regulations address the definition of real property under section 1031 and also provide a rule addressing the receipt of personal property that is incidental to real property received in a like-kind…
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Treasury

“Treasury Sanctions Entities Involved in Exporting Workers from North Korea”

WASHINGTON – Today, the U.S. Department of the Treasury imposed sanctions on two entities involved in the exportation of forced labor from North Korea. These actions were taken pursuant to Executive Order (E.O.) 13722 of March 15, 2016, “Blocking Property of the Government of North Korea and the Workers’ Party of…
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Treasury

“Statement on ByteDance and TikTok by Treasury Spokesperson Monica Crowley”

WASHINGTON, D.C.---The President’s August 14 Order requires ByteDance and TikTok Inc. to undertake specific divestments and other measures to address the national security risk arising from ByteDance’s acquisition of Musical.ly.  Consistent with the Order, the Committee on Foreign Investment in the United States (CFIUS) has granted ByteDance a 15-day extension of…
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Treasury

“Regulations Clarifying that Businesses Structured as Pass Through Entities May Deduct Certain State and Local Income Taxes Similar to C Corporations”

  WASHINGTON – Today the U.S. Treasury Department and Internal Revenue Service (IRS) released a notice regarding proposed regulations that will clarify that State and local income taxes imposed on and paid by a pass-through entity are allowed as a deduction by the pass-through entity in computing its non-separately stated taxable…
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Treasury

“Treasury Imposes Sanctions on Petroleum Network, Senior Syrian Officials, and Syrian Entities

Washington – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) took action against Syrian military officials, members of the Syrian Parliament, Government of Syria entities, and Syrian and Lebanese persons attempting to revive Syria’s deteriorating petroleum industry. Specifically, OFAC added seven individuals and 10 entities to…
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