WHAT: The Federal Trade Commission will host PrivacyCon 2020 to examine the latest research and trends related to consumer privacy and data security. WHEN: Tuesday, July 21, 2020, 9 a.m. – 5 p.m. ET WHERE: The event will be held online. A link to view PrivacyCon will be posted the morning of the event to […]
Monthly Archives: July 2020
IRS advice for those who missed the July 15 deadline, file now to avoid bigger bill
IR-2020-164, July 20, 2020 WASHINGTON — For those who missed the July 15 tax deadline and didn’t request an extension, the Internal Revenue Service reminds taxpayers about some important tips, including filing electronically as soon as possible to reduce potential penalties. Some taxpayers may have extra time to file and pay any taxes due without […]
Acting Comptroller of the Currency Joins Senator Tim Scott and HUD Secretary Ben Carson to Promote Access to Capital in Underserved Areas
News Release 2020-96 | July 17, 2020 Share This Page: CHARLESTON, S.C.—Acting Comptroller of the Currency Brian Brooks today joined Senator Tim Scott and Secretary of Housing and Urban Development Ben Carson to raise awareness of investment and lending related to Opportunity Zones, which also may receive credit under the Office of the Comptroller of the […]
Security Summit focuses on tax pro security during coronavirus; new series on working virtually: protecting tax data at home and at work
IR-2020-163, July 17, 2020 WASHINGTON — The Internal Revenue Service and the Security Summit partners today urged tax professionals this summer to review critical security steps to ensure they are fully protecting client data whether working in the office or a remote location. To help tax practitioners, the IRS, state tax agencies and the nation’s […]
Statement from Secretary Steven T. Mnuchin on the Expansion of the Main Street Lending Program to Support Lending to Nonprofit Organizations
WASHINGTON – U.S. Treasury Secretary Steven T. Mnuchin issued the following statement on the expansion of the Main Street Lending Program to provide greater access to credit for nonprofit organizations: “I have sent letters to Federal Reserve Board Chairman Jerome Powell approving the expansion of the Main Street Lending Program to include the Nonprofit Organization New Loan […]
Statement of Secretary Steven T. Mnuchin Department of the Treasury Before the Committee on Small Business United States House of Representatives July 17, 2020
Chairwoman Velázquez, Ranking Member Chabot, and members of the Committee, I am pleased to join you today to discuss how the Department of the Treasury and the Small Business Administration (SBA) are working together to provide relief to businesses and their workers through the Paycheck Protection Program (PPP). We remain committed to making sure that every […]
Treasury Sanctions Members of Nicaragua President Ortega’s Inner Circle
WASHINGTON – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Juan Carlos Ortega Murillo, son of Nicaraguan President Daniel Ortega; Jose Jorge Mojica Mejia; and two companies they use in an effort to distribute regime propaganda and launder money. “President Ortega and his corrupt inner circle prioritize their own […]
Treasury Targets Chinese Persons Involved with Drug Trafficking Organization Moving Fentanyl
Washington – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated four individuals and one entity pursuant to the Foreign Narcotics Kingpin Designation Act (Kingpin Act). The four individuals were designated for providing support to the Zheng Drug Trafficking Organization (DTO), which is run by Chinese synthetic opioid trafficker Fujing Zheng. […]
Joint Statement on the EU – U.S. Financial Regulatory Forum
WASHINGTON – EU and U.S. participants in the EU – U.S. Joint Financial Regulatory Forum met virtually on July 14-15, 2020, to exchange views on topics of mutual interest as part of their ongoing regulatory dialogue and in light of the COVID-19 crisis. EU participants included representatives of the European Commission, European Banking Authority (EBA), […]
IRS: Seniors, retirees not required to take distributions from retirement accounts this year under new law
IR-2020-162, July 17, 2020 WASHINGTON — The Internal Revenue Service today reminds seniors and retirees that they are not required to take money out of their IRAs and workplace retirement plans this year. The Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, waives required minimum distributions during 2020 for IRAs and retirement plans, […]