News & Analysis as of

Guidance Update U.S. Treasury

Miller Canfield

Treasury May Be Shifting CTA Reporting Rule Away from Domestic and Toward Foreign Reporting Companies

Miller Canfield on

On March 2, 2025, the United States Department of Treasury announced that it will not enforce fines or penalties based on the existing deadlines for reporting beneficial ownership information under the CTA beneficial...more

King & Spalding

Treasury and IRS Issue Additional Guidance on Section 40B Sustainable Aviation Fuel Tax Credit

King & Spalding on

Section 40B of the Internal Revenue Code of 1986 (the “Code”) enacted by the Inflation Reduction Act of 2022 (the “IRA”) provides tax credits for each gallon of sustainable aviation fuel (“SAF”) sold or used by a taxpayer...more

Davis Wright Tremaine LLP

Broker Dealer Regulatory Digest - December 2024

The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically focusing on:...more

Davis Wright Tremaine LLP

Banking and Consumer Regulatory Digest - November 2023

The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically focusing on:...more

Bracewell LLP

Treasury Department and IRS Release Additional Guidance for the Advanced Energy Project Credit Allocation Program

Bracewell LLP on

On May 31, 2023, the Treasury Department and the Internal Revenue Service (IRS) released Notice 2023-44 (the Notice). The Notice provides additional guidance for the new program under Section 48C(e) created by the Inflation...more

Akin Gump Strauss Hauer & Feld LLP

Treasury Updates Guidance Issued Last Week on 'Energy Community' Tax Credit Adders

Summary - On April 4, 2023, the Department of the Treasury and the Internal Revenue Service (IRS) released guidance on the “energy community” tax credit adders (EC Adders) that were added under the Inflation Reduction Act...more

Vinson & Elkins LLP

Treasury Issues IRA Guidance on Energy Communities

Vinson & Elkins LLP on

On April 4, 2023, the Department of Treasury (the “Treasury”) and Internal Revenue Service (the “IRS”) issued Notice 2023-29 (the “Notice”) providing guidance on the energy community bonus credit available under sections 45,...more

Foley & Lardner LLP

IRS Releases Guidance on Low-Income Community Credit Adder

Foley & Lardner LLP on

On February 13, 2023, the Department of Treasury and the Internal Revenue Service released Notice 2023-17, providing a high-level overview of the program to be established under Section 48(e) of the Internal Revenue Code (the...more

King & Spalding

IRS and Treasury Issue Interim Guidance on 1% Stock Buyback Tax

King & Spalding on

On December 27, 2022, the IRS and Treasury issued Notice 2023-2 (the “Notice”), which provides guidance relating to the application of the new excise tax on repurchases of corporate stock (the “Stock Buyback Tax”) under...more

Eversheds Sutherland (US) LLP

OFAC issues further guidance on the implementation of the Price Cap Policy for Russian oil

The Office of Foreign Assets Control (OFAC) of the US Treasury Department has issued its eagerly awaited guidance on the mechanisms of its “maritime services” policy and “price cap exception” for the global transport of...more

Mintz - Employment Viewpoints

HHS, Treasury and Labor Issue More Guidance on the No Surprises Act

Title I of Division BB of the Consolidated Appropriations Act, 2021 (the “Act”), and interim final rules issued by the Departments of Health and Human Services, Treasury and Labor (the “Departments”) in July 2021 (see our...more

Schwabe, Williamson & Wyatt PC

Treasury Updated Compliance Guidance for the ARP State and Local Recovery Fund

On February 28, 2022, the U.S. Department of Treasury issued revised and updated Compliance and Reporting Guidance for the American Rescue Act of 2021’s Coronavirus State and Local Fiscal Recovery Fund. The new Compliance and...more

Schwabe, Williamson & Wyatt PC

Treasury Update Regarding Guidelines on Use of CARES Act Funds

On December 14, 2021, Treasury issued an important update to its guidance on use of ‎CARES Act funds. Currently, there is a deadline of December 31, 2021 to spend CARES Act ‎funds on eligible expenses. While Congress is...more

Bracewell LLP

OFAC Ransomware Update

Bracewell LLP on

On Friday, OFAC published a compliance guide aimed at the virtual currency industry, which promotes sanctions compliance amid the rise of ransomware attacks. Similar to OFAC’s recent advisory, this compliance guide is yet...more

Perkins Coie

OFAC Issues Second Ransomware Advisory and Designates Virtual Currency Exchange for Sanctions

Perkins Coie on

Agency’s Focus on Cryptocurrency and Blockchain Continues - On September 21, 2021, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) released an updated advisory to “highlight the sanctions...more

Bracewell LLP

Ransomware Victims Told to Think Twice Before Paying Hackers

Bracewell LLP on

On Tuesday, the U.S. Department of Treasury’s Office of Foreign Asset Control (“OFAC”) issued an updated advisory warning all ransomware victims that if they succumb to ransomware demands and pay foreign actors who are...more

Fenwick & West LLP

OFAC Helps Those Who Help Themselves: How a Ransomware Response Plan Can Help Avoid Sanctions Enforcement for Ransom Payments

Fenwick & West LLP on

Many companies have a “no ransomware payment” stance until faced with a ransomware attack, especially an attack that causes significant business disruption. At that point, the company may reconsider its stance (or at least...more

BCLP

US, EU Issue Guidance on Expectations for Due Diligence to Address Forced Labor Risks

BCLP on

On July 13, 2021, the US Department of State, US Department of the Treasury, US Department of Commerce, US Department of Homeland Security, Office of the United States Trade Representative, and US Department of Labor issued...more

Holland & Hart - Health Law Blog

Free COVID-19 Vaccines and Diagnostic Testing

Over a year after the declaration of a nationwide public health emergency due to the Coronavirus Disease 2019 (“COVID-19”) pandemic, providers are in a position to offer patients a variety of COVID-19 medical services,...more

Pillsbury Winthrop Shaw Pittman LLP

Legislative Reform Will Reinvent the US Anti-Money Laundering Regulatory Landscape

New federal requirements in the annual national defense budget reauthorization effectively will end anonymous U.S. shell companies by requiring businesses to disclose 25 percent owners and control persons to a newly created...more

Hinshaw & Culbertson LLP

New Supplemental Guidance Issued for PPP Loan Program

On August 4, 2020, the Small Business Administration (SBA) and the U.S. Department of the Treasury released new FAQs to provide further guidance on Paycheck Protection Program (PPP) loan questions and supplement previously...more

BCLP

Internal Service Revenue Notice 2020-51 – Updated Guidance Regarding Retirement Plans

BCLP on

Treasury issued Notice 2020-51 today on CARES Act § 2203, the 2020 Waiver of Required Minimum Distributions (“RMDs”) that contained important (and in part some surprising) guidance. Here are some of these important points....more

Ballard Spahr LLP

IRS Provides Additional Guidance Regarding Changing Tax Day to July 15

Ballard Spahr LLP on

Following Treasury Secretary Steve Mnuchin’s Twitter announcement that Tax Day would be moved from April 15 to July 15, 2020, in response to the ongoing coronavirus crisis, the IRS released Notice 2020-18 (available here)...more

Eversheds Sutherland (US) LLP

DOL and Treasury update guidance agendas for employee benefits (Spring 2019) 

The principal regulators of US employee benefits have recently published updates to their guidance plans for the coming months. On May 22, 2019, the US Department of Labor (DOL) published its Semi-Annual Regulatory Agenda,...more

Eversheds Sutherland (US) LLP

Recent guidance brings OFAC in line with domestic and global compliance trends

On May 2, 2019, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued guidance titled “A Framework for OFAC Compliance Commitments” (Guidance), providing direction regarding what OFAC considers to...more

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