Redesigned IRS.gov page helps people closing a business; page features steps to navigate final tax actions

IR-2020-224, September 30, 2020 WASHINGTON – The Internal Revenue Service today launched a redesigned page on IRS.gov to help business owners navigate the federal tax steps when closing a business. During this difficult and challenging time, the IRS streamlined the “Closing a Business” page into simple steps, so business owners and self-employed individuals can quickly […]

IRS issues final regulations on the deduction for meals and entertainment

IR-2020-225, September 30, 2020 WASHINGTON — The Internal Revenue Service issued final regulations PDF on the business expense deduction for meals and entertainment following changes made by the Tax Cuts and Jobs Act (TCJA). The 2017 TCJA generally eliminated the deduction for any expenses related to activities generally considered entertainment, amusement or recreation. However, taxpayers may […]

Treasury Continues Targeting Facilitators of Assad Regime

Washington – Today, as part of the U.S. government’s continued effort to achieve a peaceful, political resolution of the Syrian conflict, the U.S. Department of the Treasury is taking action against key enablers of the Assad regime that are associated with the Fourth Division of the Syrian Arab Army, the Syrian General Intelligence Directorate, and […]

Agencies Issue Two Final Rules

News Release 2020-129 | September 29, 2020 Share This Page: Joint Release Board of Governors of the Federal Reserve SystemFederal Deposit Insurance CorporationOffice of the Comptroller of the Currency The federal bank regulatory agencies finalized two rules, which are either identical or substantially similar to interim final rules currently in effect and issued earlier this year. […]

Readout from a Treasury Spokesperson on Secretary Mnuchin’s Meeting with Saudi Minister and Advisor to the Royal Court Mohammed Al-Tuwaijri

WASHINGTON – Today U.S. Treasury Secretary Steven T. Mnuchin met with Saudi Minister and Advisor to the Royal Court, Mohammed Al-Tuwaijri.  The Secretary and Minister discussed the World Trade Organization, the economic impact of the coronavirus pandemic and associated response measures, and other topics of mutual interest.  ####

Treasury Concludes Loans to Seven Major Airlines, Supports Additional Relief for Aviation Industry Workers

WASHINGTON – Today, the U.S. Department of the Treasury announced that it has closed loans to seven large passenger air carriers under Division A, Title IV, Subtitle A of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The seven air carriers are Alaska Airlines, American Airlines, Frontier Airlines, JetBlue Airways, Hawaiian Airlines, SkyWest Airlines, […]

Remarks of Deputy Secretary Justin Muzinich at the 2020 U.S. Treasury Market Conference

Thank you for the opportunity to address the Treasury Market Conference again this year, a year in which we’ve faced so many unexpected and challenging developments.   If we could meet in person, we would again be at the NY Fed, which would have been especially appropriate this year because the NY Fed, and the rest […]

Statement by Assistant Secretary Monica Crowley on the Sixth Month Anniversary of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act)

WASHINGTON – Today, Assistant Secretary of the Treasury for Public Affairs Monica Crowley released the following statement on the sixth month anniversary of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act): “Six months ago, President Trump signed into law the bipartisan CARES Act, the largest economic relief package in American history. In record […]

IRS provides final regulations on income tax withholding on certain periodic retirement and annuity payments

IR-2020-223, September 28, 2020 WASHINGTON — The U.S. Department of the Treasury and the Internal Revenue Service today issued final regulations PDF updating the federal income tax withholding rules for certain periodic retirement and annuity payments made after Dec. 31, 2020. Prior to the Tax Cuts and Jobs Act (TCJA), if no withholding certificate was in […]

Statement by the Acting Comptroller of the Currency Regarding FSOC’s Consideration of Secondary Mortgage Market Activities

News Release 2020-128 | September 25, 2020 Share This Page: WASHINGTON, D.C. – Acting Comptroller of the Currency Brian P. Brooks made the following statement today at the meeting of the Financial Stability Oversight Council (FSOC) with respect to the FSOC’s activities-based review of secondary mortgage market activities and issuance of a public statement on the […]