IR-2020-202, September 3, 2020 WASHINGTON — The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning October 1, 2020. The rates will be: 3% for overpayments (2% in the case of a corporation); 0.5% for the portion of a corporate overpayment exceeding $10,000; 3% percent for underpayments; […]
Monthly Archives: September 2020
Treasury Sanctions Companies for Enabling the Shipment and Sale of Iranian Petrochemicals
Treasury Designates Front Companies of Triliance Petrochemical and Zagros Petrochemical Washington – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated six entities for their support to Triliance Petrochemical Co. Ltd. (Triliance), an entity designated by Treasury in January 2020, and related activities. These entities, based in Iran, UAE, and […]
Rachel Leiser Levy selected as new Associate Chief Counsel Employee Benefits, Exempt Organizations and Employment Taxes
IR-2020-201, September 3, 2020 WASHINGTON — The Internal Revenue Service announced today that Rachel Leiser Levy is the new Associate Chief Counsel, Employee Benefits, Exempt Organizations and Employment Taxes (EEE). Levy has served as a principal at Groom Law Group in Washington, D.C., since 2015. She has an extensive background on issues including employee benefits, […]
Treasury Announces MOU with the State of Delaware to Strengthen Information Sharing
Washington – Today, the U.S. Department of the Treasury and the State of Delaware announced a Memorandum of Understanding (MOU) setting forth information sharing procedures between the Office of Foreign Assets Control (OFAC) and the State of Delaware Department of Justice. This MOU is intended to: Promote the sharing of certain U.S. economic sanctions-related information […]
FTC Chairman Joseph J. Simons Signs Antitrust Cooperation Framework with Australia, Canada, New Zealand, and United Kingdom
Today, Federal Trade Commission Chairman Joseph J. Simons signed the Multilateral Mutual Assistance and Cooperation Framework for Competition Authorities among the FTC, the Department of Justice, and competition agencies in Australia, Canada, New Zealand, and the United Kingdom. The Framework aims to strengthen cooperation among the signatories and provides the basis for a contemplated series of […]
Children’s Online Learning Program ABCmouse to Pay $10 Million to Settle FTC Charges of Illegal Marketing and Billing Practices
Note: The FTC will host a media call-in on this announcement with Todd Kossow, Director, FTC’s Midwest Regional OfficeDate: September 2, 2020Time: 12:00 p.m. CT (1 p.m. ET)Call-in: 844-291-6360; Access Code: 2355746 Call-in lines, which are for media only, will open 15 minutes prior to the start of the call. Online children’s education company Age […]
Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by Hurricane Laura and California Wildfires
News Release 2020-117 | September 1, 2020 Share This Page: Joint Release Board of Governors of the Federal Reserve SystemConference of State Bank SupervisorsFederal Deposit Insurance CorporationNational Credit Union AdministrationOffice of the Comptroller of the Currency The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit […]
Agencies Extend Comment Period on Proposed Revisions to Interagency Questions and Answers Regarding Flood Insurance
News Release 2020-116 | September 1, 2020 Share This Page: Joint Release Board of Governors of the Federal Reserve SystemFarm Credit AdministrationFederal Deposit Insurance CorporationNational Credit Union AdministrationOffice of the Comptroller of the Currency WASHINGTON—Five federal regulatory agencies today announced they will extend the comment period on a proposal to revise the Interagency Questions and Answers […]
OCC Hosts Mutual Savings Association Advisory Committee Meeting September 22 Via Webinar
News Release 2020-114 | September 1, 2020 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced it will host a public meeting of the Mutual Savings Association Advisory Committee (MSAAC) on Tuesday, September 22, 2020, via webinar. The teleconference is open to the public and will begin at 8:30 a.m. Eastern […]
OCC Issues Fourth Quarter 2020 and First Quarter 2021 CRA Evaluation Schedule
News Release 2020-113 | September 1, 2020 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the fourth quarter 2020 and first quarter 2021. The OCC encourages public comment on the national banks and federal savings associations scheduled to […]